Atlantic Union Bankshares Co. (NYSE:AUB) Stock Has Average Price Target of $45.80

Shares of Atlantic Union Bankshares Co. (NYSE:AUB) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $45.80.

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Piper Sandler dropped their price objective on Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Morgan Stanley boosted their price target on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Finally, TD Cowen lowered their price target on Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st.

Atlantic Union Bankshares Stock Performance

NYSE AUB opened at $39.28 on Wednesday. The stock has a market cap of $5.61 billion, a PE ratio of 10.73 and a beta of 0.83. Atlantic Union Bankshares has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The firm’s fifty day moving average price is $39.18 and its two-hundred day moving average price is $39.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.

Atlantic Union Bankshares (NYSE:AUB) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The company had revenue of $387.90 million for the quarter, compared to analysts’ expectations of $392.72 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that Atlantic Union Bankshares will post 3.77 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, November 13th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.37. Atlantic Union Bankshares’s payout ratio is currently 40.44%.

Insider Buying and Selling

In related news, EVP Matthew L. Linderman sold 7,746 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total transaction of $309,840.00. Following the sale, the executive vice president owned 10,455 shares of the company’s stock, valued at $418,200. This trade represents a 42.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Atlantic Union Bankshares

Several large investors have recently made changes to their positions in AUB. Dimensional Fund Advisors LP boosted its holdings in Atlantic Union Bankshares by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after purchasing an additional 102,821 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Atlantic Union Bankshares by 1.2% in the third quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company’s stock valued at $96,078,000 after purchasing an additional 30,528 shares during the period. Principal Financial Group Inc. raised its holdings in Atlantic Union Bankshares by 40.1% in the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after acquiring an additional 272,119 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Atlantic Union Bankshares by 53.4% during the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after acquiring an additional 308,934 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Atlantic Union Bankshares by 20.8% during the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after buying an additional 124,135 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.