Atlantic Union Bankshares (NASDAQ:AUB) Hits New 52-Week Low – Time to Sell?

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $29.87 and last traded at $30.68, with a volume of 2259049 shares. The stock had previously closed at $30.24.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered 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. 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 target for the company. Finally, Hovde Group lowered their price target on 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

Atlantic Union Bankshares Price Performance

The firm has a market capitalization of $2.77 billion, a P/E ratio of 13.40 and a beta of 0.91. The firm’s 50 day simple moving average is $34.96 and its two-hundred day simple moving average is $37.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares Announces Dividend

The company 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. This represents a $1.36 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio is 59.39%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth about $28,000. 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 valued at $35,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC lifted its stake in Atlantic Union Bankshares by 186.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock worth $41,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Finally, Investment Management Corp VA ADV purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at about $72,000. Hedge funds and other institutional investors 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.