Salomon & Ludwin LLC Sells 397 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Salomon & Ludwin LLC lessened its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,925 shares of the company’s stock after selling 397 shares during the period. Salomon & Ludwin LLC’s holdings in Atlantic Union Bankshares were worth $641,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AUB. GAMMA Investing LLC grew its holdings in Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the period. Creative Planning grew its holdings in Atlantic Union Bankshares by 20.5% during the third quarter. Creative Planning now owns 13,159 shares of the company’s stock valued at $496,000 after purchasing an additional 2,240 shares during the period. ZWJ Investment Counsel Inc. bought a new stake in Atlantic Union Bankshares during the third quarter valued at about $202,000. Trust Point Inc. grew its holdings in Atlantic Union Bankshares by 2.0% during the third quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock valued at $979,000 after purchasing an additional 513 shares during the period. Finally, Blue Trust Inc. grew its holdings in Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after purchasing an additional 1,095 shares during the period. Institutional investors own 78.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AUB shares. Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Thursday, January 30th. Piper Sandler assumed coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Hovde Group dropped their price objective on Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.40.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $37.44 on Friday. 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 firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.05 and a beta of 0.92. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. The business has a 50-day moving average price of $38.09 and a 200-day moving average price of $38.62.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, February 14th. Atlantic Union Bankshares’s 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.