Kennondale Capital Management LLC Purchases New Shares in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Kennondale Capital Management LLC acquired a new position in Atlantic Union Bankshares Co. (NASDAQ:AUB) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 24,849 shares of the company’s stock, valued at approximately $941,000.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC increased its stake in shares of Atlantic Union Bankshares by 24.2% in the 3rd quarter. Natixis Advisors LLC now owns 60,782 shares of the company’s stock valued at $2,290,000 after purchasing an additional 11,832 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in Atlantic Union Bankshares by 37.3% in the fourth quarter. Wesbanco Bank Inc. now owns 62,700 shares of the company’s stock valued at $2,375,000 after purchasing an additional 17,035 shares during the period. Stifel Financial Corp increased its position in shares of Atlantic Union Bankshares by 1.3% in the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after buying an additional 428 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Atlantic Union Bankshares during the 3rd quarter worth approximately $591,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Atlantic Union Bankshares by 95.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 35,346 shares of the company’s stock valued at $1,331,000 after buying an additional 17,265 shares in the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AUB has been the subject of several recent analyst reports. Hovde Group cut their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday. Keefe, Bruyette & Woods cut 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. Finally, Piper Sandler initiated 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Stock Up 0.8 %

AUB opened at $32.63 on Tuesday. Atlantic Union Bankshares Co. has a twelve month low of $30.43 and a twelve month high of $44.54. 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 has a 50-day moving average price of $36.25 and a 200 day moving average price of $38.13. The company has a market cap of $2.93 billion, a PE ratio of 14.25 and a beta of 0.91.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.34 per share. The ex-dividend date was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.17%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 59.39%.

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.