Crestline Management LP Takes $2.24 Million Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Crestline Management LP purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 59,191 shares of the company's stock, valued at approximately $2,242,000. Crestline Management LP owned about 0.07% of Atlantic Union Bankshares as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in Atlantic Union Bankshares during the fourth quarter worth about $6,957,000. Sandy Spring Bank increased its position in Atlantic Union Bankshares by 598.2% during the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock worth $1,464,000 after purchasing an additional 33,118 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in Atlantic Union Bankshares by 37.3% in the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company's stock valued at $2,375,000 after buying an additional 17,035 shares during the period. Raymond James Financial Inc. acquired a new position in Atlantic Union Bankshares during the fourth quarter valued at approximately $6,923,000. Finally, Vanguard Group Inc. grew its stake in Atlantic Union Bankshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock worth $414,926,000 after buying an additional 27,604 shares during the period. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AUB shares. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price on the stock. Piper Sandler initiated coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They set an "overweight" rating and a $51.00 price objective on the stock. Hovde Group lowered their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Finally, Keefe, Bruyette & Woods reduced their price target 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, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.40.

Atlantic Union Bankshares Stock Down 0.4 %

AUB traded down $0.12 on Friday, reaching $29.28. The company's stock had a trading volume of 1,305,790 shares, compared to its average volume of 955,965. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The business's 50 day moving average is $28.78 and its 200 day moving average is $35.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 12.79 and a beta of 0.83.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.64%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.10%.

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.