Canal Capital Management LLC Purchases 599 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Canal Capital Management LLC increased its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,280 shares of the company’s stock after purchasing an additional 599 shares during the quarter. Canal Capital Management LLC’s holdings in Atlantic Union Bankshares were worth $2,283,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in shares of Atlantic Union Bankshares by 3,195.3% during the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company’s stock worth $40,004,000 after purchasing an additional 1,024,025 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Atlantic Union Bankshares by 275.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company’s stock worth $38,129,000 after buying an additional 757,014 shares during the last quarter. Schroder Investment Management Group purchased a new position in Atlantic Union Bankshares in the fourth quarter valued at about $25,490,000. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $19,907,000. Finally, Burkehill Global Management LP purchased a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $18,940,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AUB shares. 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. Hovde Group cut their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Morgan Stanley started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, Piper Sandler started 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.33.

Atlantic Union Bankshares Stock Down 0.4 %

AUB opened at $24.65 on Monday. The company’s 50-day moving average price is $31.36 and its two-hundred day moving average price is $36.36. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 10.76 and a beta of 0.80. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) 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.