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

Atlantic Union Bankshares Co. (NASDAQ:AUB) hit a new 52-week low during trading on Wednesday . The stock traded as low as $23.95 and last traded at $24.15, with a volume of 2909244 shares trading hands. The stock had previously closed at $24.99.

Analyst Upgrades and Downgrades

A number of brokerages recently 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 on the stock in a research note on Thursday, January 30th. Hovde Group cut their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Finally, Piper Sandler initiated coverage on shares of 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Price Performance

The stock has a market capitalization of $2.18 billion, a PE ratio of 10.54 and a beta of 0.80. 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 stock’s 50-day moving average is $33.77 and its 200 day moving average is $37.14.

Atlantic Union Bankshares Dividend Announcement

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 dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 59.39%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in Atlantic Union Bankshares in the 4th quarter worth about $28,000. Nomura Asset Management Co. Ltd. increased 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 worth $35,000 after buying an additional 410 shares during the last quarter. Smartleaf Asset Management LLC raised 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 in the last quarter. GAMMA Investing LLC lifted its stake 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, Investment Management Corp VA ADV bought a new stake in Atlantic Union Bankshares in the fourth quarter worth approximately $72,000. 78.58% of the stock is 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.