Sandy Spring Bank Grows Stock Holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Sandy Spring Bank grew its holdings in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 598.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,654 shares of the company’s stock after acquiring an additional 33,118 shares during the period. Sandy Spring Bank’s holdings in Atlantic Union Bankshares were worth $1,464,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at $28,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Atlantic Union Bankshares by 78.8% in the 3rd 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. Smartleaf Asset Management LLC lifted its stake in shares of Atlantic Union Bankshares by 186.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after purchasing an additional 699 shares during the period. GAMMA Investing LLC lifted its stake in shares of Atlantic Union Bankshares by 27.3% in 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, Quest Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at $56,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $32.31 on Friday. 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 company has a fifty day moving average of $36.01 and a two-hundred day moving average of $38.01. The stock has a market capitalization of $2.90 billion, a PE ratio of 14.11 and a beta of 0.91. Atlantic Union Bankshares Co. has a fifty-two week low of $30.43 and a fifty-two week high of $44.54.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed 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. This represents a $1.36 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, February 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AUB. Keefe, Bruyette & Woods decreased 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. Hovde Group decreased their target price on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Piper Sandler initiated coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.20.

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.