Trust Point Inc. Sells 2,247 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Trust Point Inc. lowered its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,751 shares of the company’s stock after selling 2,247 shares during the quarter. Trust Point Inc.’s holdings in Atlantic Union Bankshares were worth $900,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its stake in shares of Atlantic Union Bankshares by 526.5% in the fourth quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company’s stock worth $16,834,000 after buying an additional 373,709 shares during the period. Franklin Resources Inc. increased its position in shares of Atlantic Union Bankshares by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after acquiring an additional 270,470 shares during the period. State Street Corp raised its stake in shares of Atlantic Union Bankshares by 3.0% during the third quarter. State Street Corp now owns 4,492,014 shares of the company’s stock valued at $169,214,000 after acquiring an additional 130,104 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Atlantic Union Bankshares by 33.7% during the third quarter. Systematic Financial Management LP now owns 463,039 shares of the company’s stock valued at $17,443,000 after acquiring an additional 116,747 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Atlantic Union Bankshares by 17.8% during the fourth quarter. Tributary Capital Management LLC now owns 705,842 shares of the company’s stock worth $26,737,000 after purchasing an additional 106,543 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Up 3.2 %

AUB opened at $38.17 on Wednesday. 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 stock has a market cap of $3.43 billion, a PE ratio of 16.67 and a beta of 0.93. The business has a 50 day moving average of $38.77 and a 200-day moving average of $38.73.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 59.39%.

Analysts Set New Price Targets

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

About Atlantic Union Bankshares

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.