Neumeier Poma Investment Counsel LLC Purchases New Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Neumeier Poma Investment Counsel LLC purchased a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 525,520 shares of the company’s stock, valued at approximately $19,907,000. Atlantic Union Bankshares makes up 1.9% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 25th largest position. Neumeier Poma Investment Counsel LLC owned approximately 0.59% of Atlantic Union Bankshares as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Atlantic Union Bankshares by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock worth $414,926,000 after acquiring an additional 27,604 shares during the last quarter. State Street Corp lifted its stake in Atlantic Union Bankshares by 3.0% in the third quarter. State Street Corp now owns 4,492,014 shares of the company’s stock worth $169,214,000 after purchasing an additional 130,104 shares during the last quarter. Geode Capital Management LLC lifted its stake in Atlantic Union Bankshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock worth $77,836,000 after purchasing an additional 14,823 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Atlantic Union Bankshares by 20.0% during the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after buying an additional 270,470 shares during the period. Finally, GW&K Investment Management LLC grew its stake in shares of Atlantic Union Bankshares by 24.9% during the fourth quarter. GW&K Investment Management LLC now owns 1,553,719 shares of the company’s stock valued at $58,855,000 after buying an additional 309,519 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $31.85 on Thursday. 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 quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 13.91 and a beta of 0.91. The stock’s 50-day simple moving average is $35.66 and its 200-day simple moving average is $37.83.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports 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 report on Monday, March 17th. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Finally, Keefe, Bruyette & Woods cut 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 report 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

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.