Atlantic Union Bankshares (NASDAQ:AUB) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 753,551 shares traded hands during mid-day trading, a decline of 15% from the previous session's volume of 884,295 shares.The stock last traded at $26.46 and had previously closed at $26.46.

Analysts Set New Price Targets

Several research analysts have commented on AUB shares. Hovde Group cut 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, March 17th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday. Finally, 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 objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.40.

Atlantic Union Bankshares Trading Up 2.4 %

The firm has a 50-day moving average of $29.99 and a 200-day moving average of $35.92. 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 firm has a market capitalization of $2.48 billion, a P/E ratio of 12.03 and a beta of 0.80.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 4.94%. Atlantic Union Bankshares's payout ratio is 62.10%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $6,957,000. Sandy Spring Bank lifted its stake in shares of Atlantic Union Bankshares by 598.2% in the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock valued at $1,464,000 after purchasing an additional 33,118 shares during the period. Wesbanco Bank Inc. lifted its stake in shares of Atlantic Union Bankshares by 37.3% in the 4th quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company's stock valued at $2,375,000 after purchasing an additional 17,035 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at approximately $6,923,000. Finally, Vanguard Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock valued at $414,926,000 after purchasing an additional 27,604 shares during the period. 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.