Atlantic Union Bankshares (NYSE:AUB – Free Report) had its target price lifted by Morgan Stanley from $49.00 to $50.00 in a report released on Monday, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other brokerages have also issued reports on AUB. Piper Sandler reissued an “overweight” rating and issued a $47.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. TD Cowen lifted their target price on Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Stephens reiterated an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Finally, Weiss Ratings cut Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.33.
Read Our Latest Stock Report on AUB
Atlantic Union Bankshares Price Performance
Atlantic Union Bankshares (NYSE:AUB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. The company had revenue of $387.57 million for the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. Atlantic Union Bankshares’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. Analysts forecast that Atlantic Union Bankshares will post 3.76 EPS for the current year.
Atlantic Union Bankshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 44.18%.
Institutional Investors Weigh In On Atlantic Union Bankshares
A number of institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of Atlantic Union Bankshares by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 39,473 shares of the company’s stock valued at $1,670,000 after purchasing an additional 307 shares during the period. Paragon Capital Management Ltd bought a new stake in shares of Atlantic Union Bankshares in the 2nd quarter worth $229,000. Nykredit A S acquired a new stake in shares of Atlantic Union Bankshares in the second quarter valued at $51,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Atlantic Union Bankshares in the second quarter valued at $398,000. Finally, BTG Pactual Asset Management US LLC bought a new position in Atlantic Union Bankshares during the second quarter valued at about $411,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.
Atlantic Union Bankshares Company Profile
Atlantic Union Bankshares Corporation is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses, nonprofit organizations and public-sector clients.
The bank’s products and services include deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, mortgage banking, treasury management, cash management, wealth management and investment services.
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