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

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) have received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating 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.

A number of research analysts recently weighed in on AUB shares. 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 target price on the stock. National Bankshares set a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. Morgan Stanley boosted their target price on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. TD Cowen dropped their price objective on shares of 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. Finally, Piper Sandler dropped their price target on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th.

Atlantic Union Bankshares Stock Up 0.9%

AUB stock opened at $34.58 on Friday. The firm has a market cap of $4.93 billion, a PE ratio of 15.10 and a beta of 0.85. Atlantic Union Bankshares has a 1 year low of $22.85 and a 1 year high of $42.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $33.75 and a 200 day simple moving average of $33.29.

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

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 4.3%. Atlantic Union Bankshares’s payout ratio is 79.14%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd bought a new position in shares of Atlantic Union Bankshares during the 3rd quarter valued at $227,000. CIBC Bancorp USA Inc. bought a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at about $537,000. Coldstream Capital Management Inc. bought a new stake in Atlantic Union Bankshares in the third quarter worth $205,000. Danske Bank A S purchased a new position in shares of Atlantic Union Bankshares during the third quarter valued at approximately $120,000. Finally, NewEdge Advisors LLC increased its stake in Atlantic Union Bankshares by 3,632.7% in the 3rd quarter. NewEdge Advisors LLC now owns 7,652 shares of the company’s stock worth $270,000 after buying an additional 7,447 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

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.