Louisiana State Employees Retirement System bought a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,800 shares of the company’s stock, valued at approximately $1,220,000.
A number of other large investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Atlantic Union Bankshares by 3.4% during the fourth quarter. LPL Financial LLC now owns 19,323 shares of the company’s stock valued at $679,000 after acquiring an additional 627 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Atlantic Union Bankshares by 12.2% during the 1st quarter. Park Avenue Securities LLC now owns 11,320 shares of the company’s stock worth $397,000 after purchasing an additional 1,234 shares during the period. Signaturefd LLC grew its holdings in shares of Atlantic Union Bankshares by 59.1% during the 4th quarter. Signaturefd LLC now owns 1,362 shares of the company’s stock worth $48,000 after purchasing an additional 506 shares during the period. Phocas Financial Corp. grew its holdings in shares of Atlantic Union Bankshares by 40.7% during the 1st quarter. Phocas Financial Corp. now owns 168,025 shares of the company’s stock worth $5,889,000 after purchasing an additional 48,611 shares during the period. Finally, Oak Associates Ltd. OH boosted its holdings in Atlantic Union Bankshares by 65.4% during the 4th quarter. Oak Associates Ltd. OH now owns 22,898 shares of the company’s stock valued at $805,000 after acquiring an additional 9,051 shares during the period. 82.04% of the stock is currently owned by institutional investors.
Atlantic Union Bankshares Stock Performance
Shares of AUB opened at $26.36 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Atlantic Union Bankshares Co. has a 1 year low of $23.32 and a 1 year high of $41.04. The stock has a 50-day simple moving average of $26.50 and a 200-day simple moving average of $32.58. The stock has a market capitalization of $1.98 billion, a PE ratio of 8.94 and a beta of 1.02.
Atlantic Union Bankshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Thursday, May 18th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 41.81%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AUB. Keefe, Bruyette & Woods cut Atlantic Union Bankshares from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $42.00 to $36.00 in a report on Wednesday, April 5th. Piper Sandler lowered their target price on Atlantic Union Bankshares from $38.00 to $32.00 in a report on Monday, May 1st. Finally, Raymond James lowered their target price on Atlantic Union Bankshares from $43.00 to $34.00 in a report on Thursday, April 27th.
Atlantic Union Bankshares 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, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.
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