Westwood Holdings Group Inc. Trims Stock Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Westwood Holdings Group Inc. trimmed its position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,442,878 shares of the company’s stock after selling 118,487 shares during the period. Westwood Holdings Group Inc.’s holdings in Atlantic Union Bankshares were worth $92,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Atlantic Union Bankshares in the 4th quarter worth about $6,957,000. Sandy Spring Bank lifted its stake in shares of Atlantic Union Bankshares by 598.2% in the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after purchasing an additional 33,118 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Atlantic Union Bankshares by 37.3% during the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock worth $2,375,000 after buying an additional 17,035 shares during the period. Raymond James Financial Inc. purchased a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $6,923,000. Finally, Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock worth $414,926,000 after purchasing an additional 27,604 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, Hovde Group reduced their price objective 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, March 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $30.97 on Monday. The company has a 50-day moving average of $28.60 and a two-hundred day moving average of $35.10. The stock has a market cap of $2.79 billion, a P/E ratio of 13.52 and a beta of 0.83. Atlantic Union Bankshares Co. has a 12-month low of $22.85 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.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.39%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 62.10%.

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.