Sandy Spring Bank Purchases 33,118 Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB)

Sandy Spring Bank lifted its stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) by 598.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,654 shares of the company's stock after purchasing an additional 33,118 shares during the period. Sandy Spring Bank's holdings in Atlantic Union Bankshares were worth $1,464,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $28,000. Nomura Asset Management Co. Ltd. raised its holdings in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock valued at $35,000 after acquiring an additional 410 shares during the period. Smartleaf Asset Management LLC raised its holdings in Atlantic Union Bankshares by 186.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC lifted its position in shares of Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after acquiring an additional 284 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Atlantic Union Bankshares in the third quarter worth about $56,000. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Price Performance

Shares of AUB stock traded down $0.50 on Tuesday, reaching $32.42. The company's stock had a trading volume of 1,359,385 shares, compared to its average volume of 683,241. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.16 and a beta of 0.91. The stock's fifty day simple moving average is $35.89 and its 200-day simple moving average is $37.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares Co. has a 1 year low of $30.43 and a 1 year high of $44.54.

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Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares's payout ratio is 59.39%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler started coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price target on the stock. Hovde Group dropped their target price on shares of 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. 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 on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.20.

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.