Atlantic Union Bankshares (NASDAQ:AUB) Receives New Coverage from Analysts at Stephens

Stephens began coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research note issued to investors on Tuesday morning, FlyOnTheWall reports. The firm issued an overweight rating on the stock.

Atlantic Union Bankshares Price Performance

NASDAQ AUB opened at $29.49 on Tuesday. The business has a 50 day simple moving average of $29.97 and a 200 day simple moving average of $30.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 0.89. Atlantic Union Bankshares has a 52-week low of $23.32 and a 52-week high of $41.04. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 10.61 and a beta of 1.05.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its earnings results on Tuesday, July 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $179.95 million during the quarter, compared to analysts’ expectations of $177.87 million. Atlantic Union Bankshares had a net margin of 24.25% and a return on equity of 9.97%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Analysts anticipate that Atlantic Union Bankshares will post 2.75 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, August 10th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 43.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AUB. LPL Financial LLC boosted its stake in shares of Atlantic Union Bankshares by 3.4% in the 4th quarter. LPL Financial LLC now owns 19,323 shares of the company’s stock valued at $679,000 after purchasing an additional 627 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Atlantic Union Bankshares by 94.9% during the first quarter. Rhumbline Advisers now owns 251,991 shares of the company’s stock valued at $8,832,000 after acquiring an additional 122,679 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of Atlantic Union Bankshares by 179.9% in the 1st quarter. Dark Forest Capital Management LP now owns 3,001 shares of the company’s stock worth $105,000 after purchasing an additional 1,929 shares in the last quarter. Park Avenue Securities LLC increased its stake in Atlantic Union Bankshares by 12.2% during the 1st quarter. Park Avenue Securities LLC now owns 11,320 shares of the company’s stock valued at $397,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Phocas Financial Corp. raised its holdings in Atlantic Union Bankshares by 40.7% during the first quarter. Phocas Financial Corp. now owns 168,025 shares of the company’s stock worth $5,889,000 after buying an additional 48,611 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.