Cubist Systematic Strategies LLC Purchases New Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Cubist Systematic Strategies LLC acquired a new stake in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 96,754 shares of the company's stock, valued at approximately $3,665,000. Cubist Systematic Strategies LLC owned 0.11% of Atlantic Union Bankshares as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Atlantic Union Bankshares by 27.3% during 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 during the period. HighPoint Advisor Group LLC lifted its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock valued at $244,000 after acquiring an additional 312 shares during the period. Atria Investments Inc lifted its holdings in shares of Atlantic Union Bankshares by 5.9% during the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company's stock valued at $221,000 after acquiring an additional 326 shares during the period. Pettyjohn Wood & White Inc. lifted its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company's stock valued at $327,000 after acquiring an additional 425 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Atlantic Union Bankshares by 5.2% in the fourth 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 in the last quarter. 78.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AUB. 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. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $39.40.

Atlantic Union Bankshares Stock Down 0.2%

NASDAQ AUB traded down $0.07 during trading on Thursday, hitting $31.01. The stock had a trading volume of 216,130 shares, compared to its average volume of 963,820. The company has a market capitalization of $2.80 billion, a PE ratio of 13.54 and a beta of 0.83. The company's 50-day moving average price is $28.65 and its two-hundred day moving average price is $35.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares Co. has a 12 month low of $22.85 and a 12 month high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio is currently 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.