Burkehill Global Management LP Buys New Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Burkehill Global Management LP purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 500,000 shares of the company's stock, valued at approximately $18,940,000. Atlantic Union Bankshares makes up 1.8% of Burkehill Global Management LP's holdings, making the stock its 18th largest holding. Burkehill Global Management LP owned 0.56% of Atlantic Union Bankshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $28,000. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 78.8% during 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 during the period. Smartleaf Asset Management LLC lifted its position in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after purchasing an additional 699 shares during the period. GAMMA Investing LLC lifted its position in Atlantic Union Bankshares by 27.3% during 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 during the period. Finally, Quest Partners LLC acquired a new position in Atlantic Union Bankshares during the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 78.58% of the company's stock.

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Atlantic Union Bankshares Stock Up 1.5 %

Shares of AUB traded up $0.48 on Friday, hitting $32.39. The company's stock had a trading volume of 1,159,335 shares, compared to its average volume of 657,802. 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 fifty day moving average price is $36.34 and its 200-day moving average price is $38.19. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.54. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.14 and a beta of 0.91.

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 given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.20%. Atlantic Union Bankshares's dividend payout ratio is presently 59.39%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AUB. Hovde Group cut their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Monday, January 27th. Piper Sandler assumed coverage on shares of 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a "market perform" rating for the company in a 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.40.

Atlantic Union Bankshares 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.