Atlantic Union Bankshares Co. (NASDAQ:AUB) Receives Consensus Rating of “Moderate Buy” from Analysts

Atlantic Union Bankshares Co. (NASDAQ:AUB) has been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.6111.

AUB has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, December 11th. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. TD Cowen raised their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Janney Montgomery Scott assumed coverage on shares of Atlantic Union Bankshares in a report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. raised its position in shares of Atlantic Union Bankshares by 1,022.6% during the 3rd quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock worth $66,246,000 after acquiring an additional 1,709,975 shares in the last quarter. Franklin Resources Inc. increased its stake in Atlantic Union Bankshares by 96.8% in the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock valued at $103,631,000 after purchasing an additional 1,629,591 shares during the last quarter. State Street Corp raised its holdings in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after purchasing an additional 1,457,647 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Atlantic Union Bankshares by 1,128.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,398,654 shares of the company’s stock valued at $49,358,000 after buying an additional 1,284,759 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Atlantic Union Bankshares by 59.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after buying an additional 1,255,064 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Trading Up 1.7%

NASDAQ AUB opened at $36.13 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 15.78 and a beta of 0.83. The firm has a 50 day simple moving average of $34.34 and a 200-day simple moving average of $34.08. Atlantic Union Bankshares has a one year low of $22.85 and a one year high of $39.29.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $319.21 million for the quarter, compared to analyst estimates of $377.92 million. During the same quarter last year, the company earned $0.83 earnings per share. Atlantic Union Bankshares’s quarterly revenue was up 69.8% compared to the same quarter last year. Equities research 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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.1%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is currently 79.14%.

Atlantic Union Bankshares Company Profile

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.