Tributary Capital Management LLC Has $26.74 Million Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Tributary Capital Management LLC raised its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 17.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 705,842 shares of the company’s stock after purchasing an additional 106,543 shares during the quarter. Atlantic Union Bankshares comprises approximately 2.1% of Tributary Capital Management LLC’s holdings, making the stock its 8th biggest position. Tributary Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $26,737,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its stake in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after purchasing an additional 410 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after buying an additional 489 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after acquiring an additional 483 shares during the last quarter. Quest Partners LLC purchased a new position in Atlantic Union Bankshares in the third quarter worth about $56,000. Finally, Blue Trust Inc. increased its stake in Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after acquiring an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $36.50 on Friday. Atlantic Union Bankshares Co. has a 52 week low of $30.43 and a 52 week high of $44.54. The company has a market capitalization of $3.28 billion, a PE ratio of 13.10 and a beta of 0.93. The stock’s fifty day moving average is $39.43 and its two-hundred day moving average is $38.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AUB. Piper Sandler assumed coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price for the company. Raymond James dropped their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $44.60.

Atlantic Union Bankshares 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.