Atlantic Union Bankshares (NASDAQ:AUB) Hits New 12-Month High After Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB) reached a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $42.00 to $46.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Atlantic Union Bankshares traded as high as $43.74 and last traded at $43.74, with a volume of 10017 shares trading hands. The stock had previously closed at $42.63.

Several other research firms also recently commented on AUB. Raymond James dropped their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Hovde Group lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of AUB. Nomura Asset Management Co. Ltd. lifted its stake in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares in the last quarter. GAMMA Investing LLC boosted its stake in Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after purchasing an additional 483 shares during the last quarter. Quest Partners LLC bought a new position in shares of Atlantic Union Bankshares in the third quarter valued at approximately $56,000. Finally, Blue Trust Inc. boosted its position in shares of Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after buying an additional 1,095 shares during the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Price Performance

The firm has a market cap of $3.91 billion, a P/E ratio of 18.07 and a beta of 0.89. The company has a fifty day moving average of $38.93 and a 200-day moving average of $36.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The firm had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.12%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 56.43%.

Atlantic Union Bankshares Company Profile

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.