Atlantic Union Bankshares (NASDAQ:AUB) Sets New 52-Week High on Analyst Upgrade

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUBGet Free Report) reached a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $42.00 to $45.00. Morgan Stanley currently has an equal weight rating on the stock. Atlantic Union Bankshares traded as high as $42.22 and last traded at $42.1450, with a volume of 558783 shares trading hands. The stock had previously closed at $41.86.

AUB has been the topic of several other research reports. Stephens reaffirmed an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Piper Sandler increased their price objective on shares of Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, TD Cowen increased their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.62.

View Our Latest Research Report on Atlantic Union Bankshares

Insider Transactions at Atlantic Union Bankshares

In related news, Director Nancy H. Agee bought 650 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the purchase, the director directly owned 37,797 shares of the company’s stock, valued at $1,475,972.85. This trade represents a 1.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently modified their holdings of AUB. IFP Advisors Inc boosted its holdings in Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $26,000 after acquiring an additional 580 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new stake in Atlantic Union Bankshares during the 4th quarter worth about $39,000. EverSource Wealth Advisors LLC lifted its stake in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after purchasing an additional 1,287 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 138.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock worth $73,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Atlantic Union Bankshares during the third quarter worth $77,000. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Trading Up 0.2%

The business’s fifty day moving average is $38.18 and its 200-day moving average is $37.65. The firm has a market cap of $6.01 billion, a P/E ratio of 18.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUBGet Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. During the same period in the previous year, the firm earned $0.90 EPS. Analysts predict that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 62.71%.

About Atlantic Union Bankshares

(Get Free Report)

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

Further Reading

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