Alyeska Investment Group L.P. Makes New Investment in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Alyeska Investment Group L.P. acquired a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 161,295 shares of the company's stock, valued at approximately $6,110,000. Alyeska Investment Group L.P. owned 0.18% of Atlantic Union Bankshares at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its position 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 purchasing an additional 699 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 purchasing an additional 284 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Atlantic Union Bankshares in the fourth quarter worth about $91,000. Finally, Sterling Capital Management LLC grew its position in shares of Atlantic Union Bankshares by 838.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,880 shares of the company's stock worth $109,000 after buying an additional 2,573 shares during the last quarter. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB traded down $0.12 on Friday, hitting $29.28. 1,305,790 shares of the company's stock traded hands, compared to its average volume of 955,965. The firm has a market capitalization of $2.64 billion, a PE ratio of 12.79 and a beta of 0.83. Atlantic Union Bankshares Co. has a 1-year low of $22.85 and a 1-year high of $44.54. The firm's 50-day moving average price is $28.78 and its two-hundred day moving average price is $35.34. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio is currently 62.10%.

Analyst Ratings Changes

AUB has been the topic of several analyst reports. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price objective on the stock. Finally, Hovde Group dropped their target price 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares has an average rating of "Moderate Buy" and an average target price of $39.40.

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.