North Reef Capital Management LP Invests $78.94 Million in Atlantic Union Bankshares Co. (NASDAQ:AUB)

North Reef Capital Management LP acquired a new position in shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,083,999 shares of the company's stock, valued at approximately $78,942,000. Atlantic Union Bankshares comprises approximately 3.5% of North Reef Capital Management LP's holdings, making the stock its 11th biggest position. North Reef Capital Management LP owned 2.32% of Atlantic Union Bankshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC increased its stake 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 during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at about $121,000. Franklin Resources Inc. increased its stake in shares of Atlantic Union Bankshares by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company's stock valued at $62,607,000 after buying an additional 270,470 shares during the period. GAMMA Investing LLC increased its stake in shares of Atlantic Union Bankshares by 27.3% in the fourth quarter. GAMMA Investing LLC now owns 1,325 shares of the company's stock valued at $50,000 after buying an additional 284 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in shares of Atlantic Union Bankshares by 17.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,800 shares of the company's stock valued at $182,000 after buying an additional 720 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Trading Down 0.7 %

NASDAQ AUB traded down $0.19 during trading on Wednesday, hitting $27.65. 341,553 shares of the company's stock traded hands, compared to its average volume of 917,719. The stock has a fifty day moving average of $29.81 and a two-hundred day moving average of $35.86. 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 12-month low of $22.85 and a 12-month high of $44.54. The firm has a market cap of $2.49 billion, a P/E ratio of 12.07 and a beta of 0.80.

Atlantic Union Bankshares Dividend Announcement

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 dividend of $0.34 per share. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 4.92%. Atlantic Union Bankshares's payout ratio is 62.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AUB shares. Piper Sandler began coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an "overweight" rating and a $51.00 price target for the company. Hovde Group cut their price target on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Morgan Stanley assumed 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 objective for the company. Finally, 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 research report on Monday. Two equities research 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.40.

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.