Cascades Capital Asset Management LLC Trims Stake in Atlantic Union Bankshares Co. (NASDAQ:AUB)

Cascades Capital Asset Management LLC lessened its position in Atlantic Union Bankshares Co. (NASDAQ:AUB) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,772 shares of the company’s stock after selling 2,695 shares during the quarter. Cascades Capital Asset Management LLC’s holdings in Atlantic Union Bankshares were worth $635,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AUB. R Squared Ltd purchased a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC grew its position in 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 acquiring an additional 284 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth $91,000. 78.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Hovde Group lowered 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, March 17th. Keefe, Bruyette & Woods lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday, January 30th. Finally, 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 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Atlantic Union Bankshares Stock Down 6.7 %

NASDAQ:AUB opened at $25.44 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares Co. has a 1-year low of $24.71 and a 1-year high of $44.54. The company has a 50-day moving average of $34.55 and a 200 day moving average of $37.45. The firm has a market cap of $2.29 billion, a PE ratio of 11.11 and a beta of 0.80.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.35%. Atlantic Union Bankshares’s dividend payout ratio is presently 59.39%.

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.