SG Americas Securities LLC Acquires New Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

SG Americas Securities LLC purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,965 shares of the company's stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Heritage Family Offices LLP grew its stake in Atlantic Union Bankshares by 11.0% in the first quarter. Heritage Family Offices LLP now owns 8,194 shares of the company's stock valued at $255,000 after purchasing an additional 812 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in shares of Atlantic Union Bankshares by 2,412.4% in the first quarter. GAMMA Investing LLC now owns 33,289 shares of the company's stock valued at $1,069,000 after buying an additional 31,964 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Atlantic Union Bankshares in the fourth quarter valued at $2,580,000. Finally, Campbell Deegan Wealth Management LLC acquired a new position in Atlantic Union Bankshares during the fourth quarter worth $751,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AUB has been the subject of a number of recent analyst reports. Morgan Stanley started 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 price target for the company. Keefe, Bruyette & Woods dropped their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Raymond James Financial upgraded shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Hovde Group decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB traded up $0.09 on Monday, reaching $31.36. 1,133,004 shares of the company's stock were exchanged, compared to its average volume of 1,120,431. Atlantic Union Bankshares Co. has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a fifty day moving average of $29.78 and a 200-day moving average of $32.62. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.69 and a beta of 0.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 62.10%.

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.