Hovde Group Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $40.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target reduced by Hovde Group from $46.00 to $40.00 in a research note released on Monday, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on AUB. Keefe, Bruyette & Woods cut their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Piper Sandler initiated coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $32.54 on Monday. Atlantic Union Bankshares has a 52-week low of $30.43 and a 52-week high of $44.54. The stock’s 50-day simple moving average is $36.09 and its 200 day simple moving average is $38.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 14.21 and a beta of 0.91.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.18%. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Hedge funds have recently added to or reduced their stakes in the company. North Reef Capital Management LP bought a new position in shares of Atlantic Union Bankshares during the 4th quarter valued at about $78,942,000. American Century Companies Inc. grew its position in Atlantic Union Bankshares by 3,195.3% during the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company’s stock valued at $40,004,000 after acquiring an additional 1,024,025 shares during the last quarter. Ameriprise Financial Inc. grew its position in Atlantic Union Bankshares by 62.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock valued at $98,029,000 after acquiring an additional 990,583 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Atlantic Union Bankshares by 275.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,031,898 shares of the company’s stock worth $38,129,000 after acquiring an additional 757,014 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $25,490,000. Institutional investors own 78.58% of the company’s stock.

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.