Dover Advisors LLC Purchases New Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Dover Advisors LLC purchased a new stake in Atlantic Union Bankshares Co. (NASDAQ:AUB) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 10,406 shares of the company’s stock, valued at approximately $324,000.

Several other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Atlantic Union Bankshares by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,130 shares of the company’s stock valued at $596,000 after acquiring an additional 614 shares during the last quarter. SG Americas Securities LLC bought a new position in Atlantic Union Bankshares during the first quarter worth about $310,000. Heritage Family Offices LLP boosted its holdings in Atlantic Union Bankshares by 11.0% during the first quarter. Heritage Family Offices LLP now owns 8,194 shares of the company’s stock worth $255,000 after buying an additional 812 shares during the last quarter. NBC Securities Inc. bought a new position in Atlantic Union Bankshares during the first quarter worth about $25,000. Finally, GAMMA Investing LLC boosted its holdings in Atlantic Union Bankshares by 2,412.4% during the first quarter. GAMMA Investing LLC now owns 33,289 shares of the company’s stock worth $1,069,000 after buying an additional 31,964 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 2.6%

NASDAQ:AUB opened at $30.71 on Friday. Atlantic Union Bankshares Co. has a fifty-two week low of $22.85 and a fifty-two week 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 stock has a market capitalization of $4.38 billion, a PE ratio of 13.41 and a beta of 0.86. The business’s 50-day simple moving average is $28.47 and its 200-day simple moving average is $33.63.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.10%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Raymond James upgraded Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $37.00 to $41.00 in a report on Tuesday. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an “equal weight” rating and a $32.00 target price on the stock. 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 report on Monday, March 17th. Finally, Jefferies Financial Group set a $37.00 target price on Atlantic Union Bankshares and gave the stock a “buy” rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Atlantic Union Bankshares 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.