Atlantic Union Bankshares Co. (NASDAQ:AUB) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 48,511 shares of the company’s stock after selling 1,605 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Atlantic Union Bankshares were worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AUB. Creative Planning lifted its position in Atlantic Union Bankshares by 20.5% during the 3rd quarter. Creative Planning now owns 13,159 shares of the company’s stock worth $496,000 after acquiring an additional 2,240 shares during the period. Raymond James & Associates raised its stake in shares of Atlantic Union Bankshares by 3.9% in the third quarter. Raymond James & Associates now owns 126,157 shares of the company’s stock worth $4,752,000 after purchasing an additional 4,763 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Atlantic Union Bankshares during the third quarter worth about $7,660,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Atlantic Union Bankshares by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 131,775 shares of the company’s stock valued at $4,964,000 after buying an additional 885 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in Atlantic Union Bankshares in the 3rd quarter worth approximately $207,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $35.65 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 15.57 and a beta of 0.92. The firm’s 50 day simple moving average is $37.30 and its 200-day simple moving average is $38.50. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 3.81%. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

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.