Atlantic Union Bankshares (NASDAQ:AUB) Research Coverage Started at TD Cowen

TD Cowen started coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $46.00 target price on the stock.

Several other research firms also recently weighed in on AUB. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $35.95 on Thursday. The stock has a 50 day moving average price of $34.23 and a 200 day moving average price of $31.36. 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 market capitalization of $5.12 billion, a price-to-earnings ratio of 15.70 and a beta of 0.90. Atlantic Union Bankshares has a 52-week low of $22.85 and a 52-week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm’s quarterly revenue was up 92.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts predict that Atlantic Union Bankshares will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 3.8%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 66.02%.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 1,441 shares of Atlantic Union Bankshares stock in a transaction on Friday, August 8th. The stock was bought at an average price of $31.49 per share, with a total value of $45,377.09. Following the completion of the acquisition, the director owned 78,047 shares in the company, valued at $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Asbury bought 7,500 shares of Atlantic Union Bankshares stock in a transaction on Monday, July 28th. The stock was acquired at an average cost of $32.91 per share, with a total value of $246,825.00. Following the acquisition, the chief executive officer owned 270,532 shares of the company’s stock, valued at $8,903,208.12. This trade represents a 2.85% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 18,941 shares of company stock valued at $606,502. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of AUB. Franklin Resources Inc. lifted its holdings in Atlantic Union Bankshares by 96.8% in the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock valued at $103,631,000 after acquiring an additional 1,629,591 shares during the period. State Street Corp increased its position in shares of Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after buying an additional 1,457,647 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 59.2% in the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after buying an additional 1,255,064 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Atlantic Union Bankshares by 189.1% in the second quarter. Systematic Financial Management LP now owns 1,572,663 shares of the company’s stock valued at $49,193,000 after buying an additional 1,028,723 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Atlantic Union Bankshares by 8.9% in the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock valued at $371,578,000 after buying an additional 978,793 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

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.