Atlantic Union Bankshares (NASDAQ:AUB) Sets New 1-Year Low - What's Next?

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.95 and last traded at $24.15, with a volume of 2909244 shares changing hands. The stock had previously closed at $24.99.

Analyst Ratings Changes

AUB has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a research report on Thursday, January 30th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price for the company. Piper Sandler started 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. Finally, Hovde Group lowered their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.33.

Atlantic Union Bankshares Trading Up 1.2 %

The company has a 50-day moving average of $32.76 and a 200 day moving average of $36.79. The company has a market cap of $2.18 billion, a PE ratio of 10.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

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Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's payout ratio is currently 59.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. North Reef Capital Management LP bought a new stake in Atlantic Union Bankshares during the 4th quarter valued at $78,942,000. American Century Companies Inc. boosted its stake in Atlantic Union Bankshares by 3,195.3% in the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after acquiring an additional 1,024,025 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Atlantic Union Bankshares by 275.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company's stock worth $38,129,000 after purchasing an additional 757,014 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $25,490,000. 78.58% of the stock is currently owned by 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.