Intrust Bank NA Boosts Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Intrust Bank NA increased its holdings in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,121 shares of the company’s stock after purchasing an additional 2,162 shares during the quarter. Intrust Bank NA’s holdings in Atlantic Union Bankshares were worth $838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Orion Portfolio Solutions LLC boosted its stake in Atlantic Union Bankshares by 14.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 38,873 shares of the company’s stock worth $1,473,000 after buying an additional 5,023 shares during the period. Norges Bank purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $6,957,000. JPMorgan Chase & Co. increased its holdings in Atlantic Union Bankshares by 342.2% in the 4th quarter. JPMorgan Chase & Co. now owns 402,247 shares of the company’s stock valued at $15,237,000 after purchasing an additional 311,290 shares during the last quarter. Neumeier Poma Investment Counsel LLC purchased a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $19,907,000. Finally, Advantage Alpha Capital Partners LP lifted its stake in Atlantic Union Bankshares by 12.4% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 14,649 shares of the company’s stock worth $555,000 after purchasing an additional 1,617 shares in the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AUB shares. Hovde Group dropped their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Piper Sandler assumed 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 target on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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 analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Price Performance

AUB stock opened at $30.69 on Friday. Atlantic Union Bankshares Co. has a 1 year low of $30.31 and a 1 year high of $44.54. The firm has a market capitalization of $2.76 billion, a P/E ratio of 13.40 and a beta of 0.91. 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 business’s 50-day moving average is $35.40 and its two-hundred day moving average is $37.74.

Atlantic Union Bankshares Dividend Announcement

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 dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 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.