Pitcairn Co. Acquires 3,202 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Pitcairn Co. raised its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,408 shares of the company’s stock after purchasing an additional 3,202 shares during the period. Pitcairn Co.’s holdings in Atlantic Union Bankshares were worth $925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AUB. R Squared Ltd bought a new position in shares of Atlantic Union Bankshares during the fourth quarter worth about $28,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Atlantic Union Bankshares by 78.8% in the 3rd 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 period. Smartleaf Asset Management LLC boosted its stake in shares of Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after purchasing an additional 699 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after buying an additional 284 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in Atlantic Union Bankshares during the fourth quarter worth $91,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $25.44 on Friday. 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 firm’s 50-day moving average price is $34.55 and its 200-day moving average price is $37.45. The firm has a market capitalization of $2.29 billion, a P/E ratio of 11.11 and a beta of 0.80. Atlantic Union Bankshares Co. has a 1-year low of $24.71 and a 1-year high of $44.54.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.34 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 5.35%. Atlantic Union Bankshares’s payout ratio is currently 59.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Thursday, January 30th. Hovde Group cut their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler started coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

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, time deposit, and money market accounts; certificates of deposit; and other depository services.