Stieven Capital Advisors L.P. Purchases New Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Stieven Capital Advisors L.P. bought a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 415,000 shares of the company's stock, valued at approximately $12,923,000. Atlantic Union Bankshares makes up about 2.5% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 16th biggest position. Stieven Capital Advisors L.P. owned 0.46% of Atlantic Union Bankshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares during the 4th quarter worth $78,942,000. American Century Companies Inc. boosted its position in 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 worth $40,004,000 after acquiring an additional 1,024,025 shares during the period. Ameriprise Financial Inc. boosted its position in Atlantic Union Bankshares by 62.0% during the 4th 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 during the period. Schroder Investment Management Group acquired a new position in Atlantic Union Bankshares during the 4th quarter worth $25,490,000. Finally, Soros Fund Management LLC acquired a new position in Atlantic Union Bankshares during the 4th quarter worth $21,813,000. Institutional investors and hedge funds own 78.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. 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 price target for the company. Raymond James Financial upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $37.00 to $41.00 in a report on Tuesday, June 10th. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Hovde Group cut their price objective 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. 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 report on Monday, April 28th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Trading Down 4.1%

Shares of NASDAQ AUB traded down $1.36 during mid-day trading on Tuesday, hitting $31.97. 1,127,731 shares of the company traded hands, compared to its average volume of 1,137,861. Atlantic Union Bankshares Co. has a 1 year low of $22.85 and a 1 year high of $44.54. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 13.96 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $30.85 and a two-hundred day moving average of $32.30.

Atlantic Union Bankshares Announces Dividend

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 4.25%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio 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.