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

Trust Point Inc. cut its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in Atlantic Union Bankshares by 13.8% in the 4th quarter. Jennison Associates LLC now owns 610,694 shares of the company’s stock worth $23,133,000 after buying an additional 73,880 shares during the period. DAVENPORT & Co LLC boosted its holdings 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 acquiring an additional 373,709 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Atlantic Union Bankshares by 0.7% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 132,665 shares of the company’s stock valued at $5,025,000 after purchasing an additional 890 shares in the last quarter. R Squared Ltd bought a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at $28,000. Finally, KBC Group NV lifted its holdings in Atlantic Union Bankshares by 55.9% during the 4th quarter. KBC Group NV now owns 4,475 shares of the company’s stock worth $170,000 after purchasing an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Price Performance

AUB stock opened at $38.17 on Wednesday. The firm has a 50 day simple moving average of $38.77 and a two-hundred day simple moving average of $38.73. The stock has a market cap of $3.43 billion, a PE ratio of 16.67 and a beta of 0.93. Atlantic Union Bankshares Co. has a one year low of $30.43 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.56%. Atlantic Union Bankshares’s payout ratio is 59.39%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AUB shares. Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Keefe, Bruyette & Woods reduced 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. Finally, Hovde Group lowered their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average price target of $44.40.

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.