Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 1-Year Low – Should You Sell?

Atlantic Union Bankshares Co. (NASDAQ:AUB) reached a new 52-week low during trading on Thursday . The stock traded as low as $29.87 and last traded at $30.68, with a volume of 2259049 shares traded. The stock had previously closed at $30.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. Piper Sandler assumed coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price objective 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 on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $43.20.

Atlantic Union Bankshares Stock Down 6.7 %

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.11 and a beta of 0.80. 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 company’s 50 day moving average price is $34.55 and its 200 day moving average price is $37.45.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a yield of 5.35%. Atlantic Union Bankshares’s payout ratio is presently 59.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AUB. GAMMA Investing LLC increased its holdings in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after buying an additional 284 shares during the period. HighPoint Advisor Group LLC increased its stake in shares of Atlantic Union Bankshares by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock worth $244,000 after acquiring an additional 312 shares during the period. Atria Investments Inc raised its holdings in shares of Atlantic Union Bankshares by 5.9% during the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock worth $221,000 after purchasing an additional 326 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after purchasing an additional 410 shares during the period. Finally, Pettyjohn Wood & White Inc. grew its position in Atlantic Union Bankshares by 5.2% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock worth $327,000 after purchasing an additional 425 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.