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

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares 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.

Analysts Set New Price Targets

Several research analysts have weighed in on AUB shares. Piper Sandler assumed 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. Keefe, Bruyette & Woods lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Finally, Hovde Group cut their target price 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $43.20.

Atlantic Union Bankshares Stock Down 3.1 %

The business has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $37.79. 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 company has a market cap of $2.76 billion, a price-to-earnings ratio of 13.40 and a beta of 0.91.

Atlantic Union Bankshares Dividend Announcement

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

Institutional Investors Weigh In On Atlantic Union Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after buying an additional 284 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock worth $244,000 after purchasing an additional 312 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Atlantic Union Bankshares by 5.9% in the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock valued at $221,000 after purchasing an additional 326 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted 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 valued at $35,000 after purchasing an additional 410 shares during the period. Finally, Pettyjohn Wood & White Inc. grew its stake in Atlantic Union Bankshares by 5.2% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock worth $327,000 after buying an additional 425 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.