MetLife Investment Management LLC Increases Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

MetLife Investment Management LLC boosted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 53,867 shares of the company’s stock after purchasing an additional 2,281 shares during the quarter. MetLife Investment Management LLC’s holdings in Atlantic Union Bankshares were worth $2,040,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Atlantic Union Bankshares during the 4th quarter valued at about $6,957,000. Sandy Spring Bank grew its position in Atlantic Union Bankshares by 598.2% during the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after purchasing an additional 33,118 shares during the last quarter. Wesbanco Bank Inc. grew its position in Atlantic Union Bankshares by 37.3% during the 4th quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock valued at $2,375,000 after purchasing an additional 17,035 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Atlantic Union Bankshares during the 4th quarter valued at about $6,923,000. Finally, Vanguard Group Inc. grew its position in Atlantic Union Bankshares by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock valued at $414,926,000 after purchasing an additional 27,604 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

AUB opened at $27.54 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 12.03 and a beta of 0.80. The company’s 50 day moving average is $29.99 and its 200 day moving average is $35.92. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s payout ratio is 62.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AUB shares. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. Hovde Group dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Morgan Stanley started coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.