Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 98,955 shares of the company’s stock, valued at approximately $3,748,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Atlantic Union Bankshares at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc purchased a new position in shares of Atlantic Union Bankshares during the third quarter worth about $207,000. Oppenheimer & Co. Inc. increased its holdings in shares of Atlantic Union Bankshares by 5.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock worth $325,000 after buying an additional 450 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Atlantic Union Bankshares by 24.2% during the 3rd quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock valued at $2,290,000 after buying an additional 11,832 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Atlantic Union Bankshares during the 3rd quarter worth $56,000. Finally, PNC Financial Services Group Inc. grew its position in Atlantic Union Bankshares by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 49,019 shares of the company’s stock worth $1,847,000 after acquiring an additional 958 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

AUB has been the topic of a number of research reports. Hovde Group lowered their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday. Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their target price 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 equities research 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.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Stock Up 0.8 %

AUB opened at $32.63 on Tuesday. Atlantic Union Bankshares Co. has a 12 month low of $30.43 and a 12 month high of $44.54. 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 business’s 50-day moving average price is $36.25 and its 200-day moving average price is $38.13. The company has a market cap of $2.93 billion, a P/E ratio of 14.25 and a beta of 0.91.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.17%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

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.