Analysts Set Atlantic Union Bankshares Co. (NASDAQ:AUB) PT at $40.61

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $40.6111.

Several equities research analysts have weighed in on AUB shares. Piper Sandler cut their target price on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company. TD Cowen reduced their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Monday, October 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Friday, October 24th.

Atlantic Union Bankshares Trading Up 0.4%

Shares of Atlantic Union Bankshares stock opened at $31.42 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares has a 12-month low of $22.85 and a 12-month high of $44.54. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 13.72 and a beta of 0.94. The firm’s 50-day moving average price is $34.28 and its two-hundred day moving average price is $32.88.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.02). The firm had revenue of $319.21 million during the quarter, compared to analyst estimates of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. On average, analysts forecast that Atlantic Union Bankshares will post 3.26 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.37 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 79.14%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company’s stock worth $371,578,000 after acquiring an additional 978,793 shares during the last quarter. State Street Corp boosted its stake in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after purchasing an additional 1,457,647 shares in the last quarter. North Reef Capital Management LP boosted its stake in shares of Atlantic Union Bankshares by 35.0% during the third quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Atlantic Union Bankshares by 59.2% during the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after purchasing an additional 1,255,064 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of 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 buying an additional 1,629,591 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.