Hovde Group Has Lowered Expectations for Atlantic Union Bankshares (NASDAQ:AUB) Stock Price

Atlantic Union Bankshares (NASDAQ:AUB) had its price target lowered by Hovde Group from $46.00 to $40.00 in a research report report published on Monday, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

AUB has been the subject of several other research reports. Piper Sandler began coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $32.54 on Monday. The stock has a market capitalization of $2.92 billion, a P/E ratio of 14.21 and a beta of 0.91. Atlantic Union Bankshares has a one year low of $30.43 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50 day simple moving average is $36.09 and its two-hundred day simple moving average is $38.05.

Atlantic Union Bankshares Announces Dividend

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

Hedge Funds Weigh In On Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Atlantic Union Bankshares by 27.3% in the fourth 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 raised its position in shares of Atlantic Union Bankshares by 5.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock worth $244,000 after acquiring an additional 312 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Atlantic Union Bankshares by 5.9% in the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock valued at $221,000 after purchasing an additional 326 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of 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 in the last quarter. Finally, Pettyjohn Wood & White Inc. grew its stake in Atlantic Union Bankshares by 5.2% in the fourth 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. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.