Atlantic Union Bankshares (NASDAQ:AUB) Given New $40.00 Price Target at Hovde Group

Atlantic Union Bankshares (NASDAQ:AUB) had its price target cut by Hovde Group from $46.00 to $40.00 in a research report released on Monday, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. Piper Sandler began coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $32.63 on Monday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.91. Atlantic Union Bankshares 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 has a 50 day moving average of $36.25 and a 200 day moving average of $38.13.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares’s payout ratio is presently 59.39%.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Atlantic Union Bankshares by 27.3% during the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after buying an additional 284 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock valued at $244,000 after buying an additional 312 shares during the last quarter. Atria Investments Inc grew its holdings 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 valued at $221,000 after buying an additional 326 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings 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 last quarter. Finally, Pettyjohn Wood & White Inc. grew its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock valued at $327,000 after buying an additional 425 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

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.