Atlantic Union Bankshares (NASDAQ:AUB) Sets New 12-Month Low – Here’s What Happened

Atlantic Union Bankshares Co. (NASDAQ:AUB) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $30.31 and last traded at $30.48, with a volume of 535838 shares changing hands. The stock had previously closed at $31.68.

Wall Street Analyst Weigh In

A number of research analysts have commented on AUB shares. Keefe, Bruyette & Woods reduced their price objective on 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. Hovde Group reduced their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price objective for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average price target of $43.20.

Atlantic Union Bankshares Stock Performance

The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 13.40 and a beta of 0.91. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $35.40 and a 200 day moving average of $37.74.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s payout ratio is 59.39%.

Institutional Trading of Atlantic Union Bankshares

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Atlantic Union Bankshares in the fourth quarter valued at about $28,000. Nomura Asset Management Co. Ltd. grew its position in shares of Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Atlantic Union Bankshares by 186.4% during 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 raised its position in shares of Atlantic Union Bankshares by 27.3% during 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 acquired a new position in Atlantic Union Bankshares in the third quarter worth $56,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

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.