Sandy Spring Bank Buys 33,118 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Sandy Spring Bank boosted its stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) by 598.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,654 shares of the company’s stock after buying an additional 33,118 shares during the quarter. Sandy Spring Bank’s holdings in Atlantic Union Bankshares were worth $1,464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after purchasing an additional 284 shares in the last quarter. Atria Investments Inc raised its holdings in shares of Atlantic Union Bankshares by 5.9% in the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock valued at $221,000 after purchasing an additional 326 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after purchasing an additional 410 shares in the last quarter. Pettyjohn Wood & White Inc. raised its holdings in shares of Atlantic Union Bankshares by 5.2% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock valued at $327,000 after purchasing an additional 425 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Atlantic Union Bankshares by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after purchasing an additional 428 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AUB. Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Atlantic Union Bankshares Stock Down 0.7 %

Shares of Atlantic Union Bankshares stock opened at $32.31 on Friday. The company has a market cap of $2.90 billion, a P/E ratio of 14.11 and a beta of 0.91. Atlantic Union Bankshares Co. has a 52-week low of $30.43 and a 52-week high of $44.54. 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 firm’s 50 day moving average price is $36.01 and its 200-day moving average price is $38.01.

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 given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

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.