Point72 Asset Management L.P. Purchases New Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Point72 Asset Management L.P. acquired a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,756 shares of the company's stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its holdings in shares of Atlantic Union Bankshares by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock worth $244,000 after acquiring an additional 312 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Atlantic Union Bankshares by 5.9% in the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company's stock worth $221,000 after acquiring an additional 326 shares in the last quarter. Pettyjohn Wood & White Inc. increased its holdings in shares of Atlantic Union Bankshares by 5.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company's stock worth $327,000 after acquiring an additional 425 shares in the last quarter. CIBC Asset Management Inc increased its holdings 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 worth $331,000 after acquiring an additional 431 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Atlantic Union Bankshares by 9.5% in the fourth quarter. Xponance Inc. now owns 6,424 shares of the company's stock worth $243,000 after acquiring an additional 556 shares in the last quarter. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Stock Up 0.7%

Shares of AUB stock traded up $0.20 on Thursday, hitting $30.01. 351,111 shares of the stock were exchanged, compared to its average volume of 988,577. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.28 billion, a P/E ratio of 13.09 and a beta of 0.83. The business has a 50-day moving average of $28.18 and a 200 day moving average of $34.60. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

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 given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 4.53%. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.10%.

Analyst Ratings Changes

AUB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. 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 target for the company. Finally, Hovde Group lowered their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $39.00.

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.