Charles Schwab Investment Management Inc. Increases Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Charles Schwab Investment Management Inc. lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,054,113 shares of the company’s stock after acquiring an additional 80,633 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.17% of Atlantic Union Bankshares worth $39,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Atlantic Union Bankshares by 275.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company’s stock worth $38,129,000 after acquiring an additional 757,014 shares during the period. DAVENPORT & Co LLC grew its stake in Atlantic Union Bankshares by 526.5% during the 4th quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company’s stock worth $16,834,000 after purchasing an additional 373,709 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Atlantic Union Bankshares by 24.9% during the 4th quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock worth $58,855,000 after purchasing an additional 309,519 shares during the period. Franklin Resources Inc. raised its position in Atlantic Union Bankshares by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after purchasing an additional 270,470 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at about $6,016,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $32.39 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54. The firm’s 50 day moving average is $36.34 and its two-hundred day moving average is $38.19. The firm has a market capitalization of $2.91 billion, a P/E ratio of 14.14 and a beta of 0.91.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 59.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AUB shares. Hovde Group cut their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Thursday, January 30th. Finally, Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.