PNC Financial Services Group Inc. Purchases 801 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

PNC Financial Services Group Inc. lifted its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 49,820 shares of the company’s stock after buying an additional 801 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Atlantic Union Bankshares were worth $1,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Atlantic Union Bankshares in the 4th quarter valued at $28,000. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after acquiring an additional 410 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after acquiring an additional 699 shares in the last quarter. GAMMA Investing LLC lifted its position in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after acquiring an additional 284 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Atlantic Union Bankshares in the 3rd quarter valued at $56,000. 78.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AUB has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research note on Thursday, January 30th. Finally, Hovde Group lowered their price target 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average price target of $44.40.

Atlantic Union Bankshares Stock Up 1.5 %

Atlantic Union Bankshares stock opened at $32.39 on Friday. The firm has a market capitalization of $2.91 billion, a PE ratio of 14.14 and a beta of 0.91. The company’s 50-day moving average is $36.34 and its 200-day moving average is $38.19. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.20%. Atlantic Union Bankshares’s dividend payout ratio is presently 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.