Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC grew its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 610,694 shares of the company’s stock after buying an additional 73,880 shares during the period. Jennison Associates LLC owned 0.68% of Atlantic Union Bankshares worth $23,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AUB. GAMMA Investing LLC raised its stake in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after acquiring an additional 284 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after purchasing an additional 410 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock worth $1,224,000 after purchasing an additional 428 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Atlantic Union Bankshares by 5.5% during the third quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock worth $325,000 after purchasing an additional 450 shares during the period. Finally, UMB Bank n.a. boosted its position in Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after buying an additional 483 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

NASDAQ:AUB opened at $38.36 on Thursday. The company has a 50 day moving average price of $38.69 and a 200-day moving average price of $38.73. Atlantic Union Bankshares Co. has a 1-year low of $30.43 and a 1-year high of $44.54. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 16.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.34 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.54%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Hovde Group decreased their price objective on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Finally, Piper Sandler began coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

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.