Atlantic Union Bankshares (NASDAQ:AUB) Hits New 12-Month Low - Time to Sell?

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $30.31 and last traded at $30.48, with a volume of 535838 shares trading hands. The stock had previously closed at $31.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AUB shares. Piper Sandler initiated 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. 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 research report on Thursday, January 30th. Finally, Hovde Group cut their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.20.

Atlantic Union Bankshares Trading Down 2.8 %

The stock has a fifty day moving average of $35.10 and a 200 day moving average of $37.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $2.73 billion, a P/E ratio of 13.22 and a beta of 0.91.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's payout ratio is 59.39%.

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Institutional Trading of Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Atlantic Union Bankshares in the 3rd quarter worth $526,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Atlantic Union Bankshares by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 973,480 shares of the company's stock worth $36,671,000 after acquiring an additional 77,642 shares during the period. Citigroup Inc. grew its position in shares of Atlantic Union Bankshares by 22.6% during the third quarter. Citigroup Inc. now owns 161,729 shares of the company's stock worth $6,092,000 after purchasing an additional 29,784 shares in the last quarter. Cerity Partners LLC raised its stake in Atlantic Union Bankshares by 24.4% during the 3rd quarter. Cerity Partners LLC now owns 55,349 shares of the company's stock valued at $2,085,000 after purchasing an additional 10,860 shares during the period. Finally, FMR LLC lifted its holdings in Atlantic Union Bankshares by 30.1% in the 3rd quarter. FMR LLC now owns 71,349 shares of the company's stock worth $2,688,000 after purchasing an additional 16,516 shares in 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.