Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,723,794 shares of the company’s stock after acquiring an additional 103,275 shares during the period. The Manufacturers Life Insurance Company’s holdings in Atlantic Union Bankshares were worth $65,297,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC boosted its position in Atlantic Union Bankshares by 7,440.0% during the fourth quarter. Aquatic Capital Management LLC now owns 75,400 shares of the company’s stock worth $2,856,000 after purchasing an additional 74,400 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth about $392,000. Ghisallo Capital Management LLC acquired a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $3,788,000. North Reef Capital Management LP purchased a new position in Atlantic Union Bankshares during the 4th quarter valued at about $78,942,000. Finally, Price T Rowe Associates Inc. MD raised its position in Atlantic Union Bankshares by 12.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,031 shares of the company’s stock worth $2,199,000 after acquiring an additional 6,379 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Trading Up 1.4 %

Shares of Atlantic Union Bankshares stock opened at $27.87 on Wednesday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The business’s fifty day moving average is $29.81 and its two-hundred day moving average is $35.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.51 billion, a PE ratio of 12.17 and a beta of 0.80.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s payout ratio is 62.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AUB shares. Piper Sandler assumed coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Keefe, Bruyette & Woods reduced their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.