Alyeska Investment Group L.P. Acquires New Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Alyeska Investment Group L.P. bought a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 161,295 shares of the company’s stock, valued at approximately $6,110,000. Alyeska Investment Group L.P. owned 0.18% of Atlantic Union Bankshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AUB. Comerica Bank grew its holdings in shares of Atlantic Union Bankshares by 2.2% during the 4th quarter. Comerica Bank now owns 41,494 shares of the company’s stock worth $1,572,000 after purchasing an additional 888 shares during the period. Soros Fund Management LLC purchased a new position in Atlantic Union Bankshares during the fourth quarter worth about $21,813,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at about $5,671,000. Northern Trust Corp raised its stake in shares of Atlantic Union Bankshares by 9.1% in the 4th quarter. Northern Trust Corp now owns 1,161,216 shares of the company’s stock valued at $43,987,000 after acquiring an additional 97,323 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Atlantic Union Bankshares by 6.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,723,794 shares of the company’s stock worth $65,297,000 after acquiring an additional 103,275 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Price Performance

AUB stock opened at $29.11 on Tuesday. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The firm has a market capitalization of $2.62 billion, a P/E ratio of 12.71 and a beta of 0.83. 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 business’s 50-day moving average is $29.28 and its two-hundred day moving average is $35.55.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AUB. Keefe, Bruyette & Woods cut their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 target price on the stock. Piper Sandler began coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price for the company. Finally, Hovde Group reduced 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 research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.40.

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.