Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 1-Year Low – Here’s What Happened

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

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

Atlantic Union Bankshares Price Performance

The firm has a market capitalization of $2.76 billion, a PE ratio of 13.40 and a beta of 0.91. The stock’s 50 day simple moving average is $35.54 and its two-hundred day simple moving average is $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.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid 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 dividend payout ratio (DPR) is presently 59.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AUB. R Squared Ltd purchased a new position in Atlantic Union Bankshares during the fourth quarter worth about $28,000. Nomura Asset Management Co. Ltd. raised its position in shares of Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Atlantic Union Bankshares by 186.4% in the fourth 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 during the last quarter. GAMMA Investing LLC lifted its holdings in Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after acquiring an additional 284 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Atlantic Union Bankshares in the third quarter worth approximately $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.