North Reef Capital Management LP Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

North Reef Capital Management LP acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,083,999 shares of the company's stock, valued at approximately $78,942,000. Atlantic Union Bankshares accounts for 3.5% of North Reef Capital Management LP's holdings, making the stock its 11th largest holding. North Reef Capital Management LP owned approximately 2.32% of Atlantic Union Bankshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AUB. GAMMA Investing LLC grew its holdings in shares of Atlantic Union Bankshares by 27.3% in the 4th 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 period. HighPoint Advisor Group LLC grew its holdings in shares of Atlantic Union Bankshares by 5.2% in the 4th 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 period. Atria Investments Inc grew its holdings in shares of Atlantic Union Bankshares by 5.9% in the 4th 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 period. Pettyjohn Wood & White Inc. grew its holdings in shares of Atlantic Union Bankshares by 5.2% in the 4th 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 period. Finally, CIBC Asset Management Inc grew its holdings in shares of Atlantic Union Bankshares by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 8,731 shares of the company's stock valued at $331,000 after buying an additional 431 shares during the period. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Stock Up 2.4 %

NASDAQ:AUB traded up $0.64 on Monday, hitting $27.54. 2,605,909 shares of the company's stock were exchanged, compared to its average volume of 915,941. The firm has a 50-day moving average price of $29.99 and a 200-day moving average price of $35.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54. The company has a market cap of $2.48 billion, a P/E ratio of 12.03 and a beta of 0.80.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 dividend payout ratio (DPR) is presently 62.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Hovde Group cut their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Keefe, Bruyette & Woods cut their price objective on shares of 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 assumed coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.40.

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.