Burkehill Global Management LP Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Burkehill Global Management LP acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $18,940,000. Atlantic Union Bankshares comprises 1.8% of Burkehill Global Management LP’s portfolio, making the stock its 18th largest position.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Atlantic Union Bankshares by 27.3% during the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after purchasing an additional 284 shares during the period. Atria Investments Inc grew its position in shares of Atlantic Union Bankshares by 5.9% during the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock worth $221,000 after buying an additional 326 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Atlantic Union Bankshares by 78.8% during 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 period. Pettyjohn Wood & White Inc. raised its holdings in Atlantic Union Bankshares by 5.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock valued at $327,000 after acquiring an additional 425 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Atlantic Union Bankshares by 1.3% in the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock worth $1,224,000 after acquiring an additional 428 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

Shares of AUB stock opened at $32.05 on Thursday. The stock’s 50-day moving average is $36.53 and its two-hundred day moving average is $38.29. 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 Co. has a 1 year low of $30.43 and a 1 year high of $44.54. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 13.99 and a beta of 0.91.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.24%. Atlantic Union Bankshares’s payout ratio is 59.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on 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. Finally, Piper Sandler began coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

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.