Atlantic Union Bankshares (NASDAQ:AUB) Sets New 1-Year Low – What’s Next?

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

Analysts Set New Price Targets

Several research firms have weighed in on AUB. Keefe, Bruyette & Woods dropped their price target on 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. 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. Finally, Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Price Performance

The company has a 50-day moving average of $35.40 and a two-hundred day moving average of $37.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $2.76 billion, a PE ratio of 13.40 and a beta of 0.91.

Atlantic Union Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.43%. Atlantic Union Bankshares’s payout ratio is currently 59.39%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Atlantic Union Bankshares during the 4th quarter valued at $28,000. Nomura Asset Management Co. Ltd. boosted its holdings in Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after acquiring an additional 410 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Atlantic Union Bankshares by 186.4% during 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 period. GAMMA Investing LLC increased its stake in Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after acquiring an additional 284 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Atlantic Union Bankshares in the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

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.