Stephens Trims Atlantic Union Bankshares (NASDAQ:AUB) Target Price to $40.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target lowered by Stephens from $43.00 to $40.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Raymond James raised their price objective on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an outperform rating in a research note on Friday, January 5th.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $33.18 on Wednesday. The company has a market cap of $2.50 billion, a PE ratio of 11.07 and a beta of 0.94. Atlantic Union Bankshares has a twelve month low of $23.32 and a twelve month high of $37.86. The company’s 50 day moving average is $33.63 and its 200 day moving average is $33.14. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The firm had revenue of $288.47 million for the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same period in the previous year, the business earned $0.63 EPS. On average, sell-side analysts forecast that Atlantic Union Bankshares will post 3.24 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.32 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.28 dividend on an annualized basis and a yield of 3.86%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Insider Activity at Atlantic Union Bankshares

In related news, Director Donald R. Kimble purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average price of $35.13 per share, with a total value of $245,910.00. Following the purchase, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Atlantic Union Bankshares in the 1st quarter valued at $27,000. Strs Ohio purchased a new position in Atlantic Union Bankshares in the 4th quarter valued at $29,000. Covestor Ltd lifted its holdings in Atlantic Union Bankshares by 95.0% in the 3rd quarter. Covestor Ltd now owns 1,053 shares of the company’s stock valued at $30,000 after purchasing an additional 513 shares in the last quarter. Ronald Blue Trust Inc. lifted its holdings in Atlantic Union Bankshares by 556.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,373 shares of the company’s stock valued at $36,000 after purchasing an additional 1,164 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in Atlantic Union Bankshares by 386,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock valued at $141,000 after purchasing an additional 3,861 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.