Dover Advisors LLC Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dover Advisors LLC acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,406 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. North Reef Capital Management LP purchased a new stake in Atlantic Union Bankshares in the 4th quarter valued at about $78,942,000. American Century Companies Inc. lifted its holdings in shares of Atlantic Union Bankshares by 3,195.3% during the 4th quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock valued at $40,004,000 after purchasing an additional 1,024,025 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Atlantic Union Bankshares by 62.0% in the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after acquiring an additional 990,583 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Atlantic Union Bankshares by 275.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company's stock worth $38,129,000 after buying an additional 757,014 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Atlantic Union Bankshares during the 4th quarter valued at about $25,490,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AUB shares. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective for the company. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Hovde Group reduced their price target 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. Raymond James raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods cut their price objective 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. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Price Performance

NASDAQ AUB traded down $0.42 during trading hours on Tuesday, hitting $30.08. 1,329,066 shares of the company's stock traded hands, compared to its average volume of 1,054,650. The company has a market capitalization of $4.29 billion, a PE ratio of 13.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 52-week low of $22.85 and a 52-week high of $44.54. The firm's 50-day moving average is $28.60 and its 200-day moving average is $33.42.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 4.52%. Atlantic Union Bankshares's payout ratio is 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.