Dark Forest Capital Management LP Acquires New Shares in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dark Forest Capital Management LP purchased a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,728 shares of the company's stock, valued at approximately $1,202,000.

Several other institutional investors have also recently made changes to their positions in AUB. Norges Bank purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth approximately $6,957,000. Sandy Spring Bank boosted its position in shares of Atlantic Union Bankshares by 598.2% during the fourth quarter. Sandy Spring Bank now owns 38,654 shares of the company's stock worth $1,464,000 after buying an additional 33,118 shares during the period. Wesbanco Bank Inc. grew its stake in shares of 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter valued at $6,923,000. Finally, Vanguard Group Inc. lifted its stake in Atlantic Union Bankshares by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company's stock worth $414,926,000 after acquiring an additional 27,604 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AUB shares. Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an "overweight" rating and a $51.00 price objective for the company. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Hovde Group decreased their price objective on shares of 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 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. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.40.

Atlantic Union Bankshares Stock Performance

AUB traded up $0.10 on Tuesday, hitting $27.59. 289,565 shares of the company traded hands, compared to its average volume of 913,565. The company has a 50 day moving average of $29.99 and a 200-day moving average of $35.92. Atlantic Union Bankshares Co. has a 12-month low of $22.85 and a 12-month high of $44.54. The stock has a market capitalization of $2.49 billion, a PE ratio of 12.04 and a beta of 0.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.93%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 62.10%.

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.