Ghisallo Capital Management LLC Takes Position in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Ghisallo Capital Management LLC bought a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $3,788,000. Ghisallo Capital Management LLC owned 0.11% of Atlantic Union Bankshares at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AUB. Barclays PLC increased its holdings in shares of Atlantic Union Bankshares by 132.3% in the third quarter. Barclays PLC now owns 186,876 shares of the company's stock valued at $7,039,000 after buying an additional 106,415 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Atlantic Union Bankshares during the 3rd quarter valued at $121,000. Franklin Resources Inc. raised its stake in Atlantic Union Bankshares by 20.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock valued at $62,607,000 after purchasing an additional 270,470 shares during the period. GAMMA Investing LLC raised its stake in Atlantic Union Bankshares by 27.3% during the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after purchasing an additional 284 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in Atlantic Union Bankshares by 17.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,800 shares of the company's stock valued at $182,000 after purchasing an additional 720 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB traded up $0.55 during trading on Thursday, hitting $28.25. The company's stock had a trading volume of 518,873 shares, compared to its average volume of 923,464. 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 firm has a 50 day moving average price of $29.66 and a 200 day moving average price of $35.81. The firm has a market cap of $2.55 billion, a P/E ratio of 12.34 and a beta of 0.80. Atlantic Union Bankshares Co. has a 52 week low of $22.85 and a 52 week high of $44.54.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Friday, February 14th. Atlantic Union Bankshares's dividend payout ratio is currently 62.10%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods cut 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 research note on Monday. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They set an "overweight" rating and a $51.00 target price on the stock. Morgan Stanley started coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 target price for the company. Finally, Hovde Group reduced their target price 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Atlantic Union Bankshares has an average rating of "Moderate Buy" and a consensus price target of $39.40.

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.