William Blair Investment Management LLC Purchases 185,662 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

William Blair Investment Management LLC raised its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 959,462 shares of the company’s stock after acquiring an additional 185,662 shares during the period. William Blair Investment Management LLC owned approximately 1.07% of Atlantic Union Bankshares worth $36,344,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AUB. Allspring Global Investments Holdings LLC raised 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 valued at $38,129,000 after buying an additional 757,014 shares during the last quarter. Burkehill Global Management LP acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at about $18,940,000. DAVENPORT & Co LLC raised its position in shares of Atlantic Union Bankshares by 526.5% during the fourth quarter. DAVENPORT & Co LLC now owns 444,691 shares of the company’s stock valued at $16,834,000 after buying an additional 373,709 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Atlantic Union Bankshares by 24.9% during the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock valued at $58,855,000 after buying an additional 309,519 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Atlantic Union Bankshares by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock worth $62,607,000 after purchasing an additional 270,470 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

AUB has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target for the company. Finally, Hovde Group dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.20.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $32.63 on Tuesday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.91. The company has a 50 day moving average of $36.25 and a 200-day moving average of $38.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 1-year low of $30.43 and a 1-year high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s payout ratio is 59.39%.

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.