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

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

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock worth $50,000 after purchasing an additional 284 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in Atlantic Union Bankshares by 5.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock valued at $244,000 after buying an additional 312 shares in the last quarter. Atria Investments Inc raised its position in shares of Atlantic Union Bankshares by 5.9% during the fourth quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock valued at $221,000 after buying an additional 326 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after buying an additional 410 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its position in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock worth $327,000 after acquiring an additional 425 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of research reports. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods reduced their target price 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. Finally, Hovde Group dropped their price target on 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $25.44 on Friday. The firm has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $37.45. Atlantic Union Bankshares Co. has a 52 week low of $24.71 and a 52 week 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 stock has a market capitalization of $2.29 billion, a P/E ratio of 11.11 and a beta of 0.80.

Atlantic Union Bankshares Announces Dividend

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

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.