Analysts Set Atlantic Union Bankshares Co. (NASDAQ:AUB) PT at $39.00

Atlantic Union Bankshares Co. (NASDAQ:AUB) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of research analysts have issued reports on AUB shares. Keefe, Bruyette & Woods reduced their price target on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective for the company. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a “buy” rating in a report on Wednesday, May 21st. Hovde Group cut their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Finally, Raymond James Financial upgraded Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $37.00 to $41.00 in a report on Tuesday, June 10th.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several large investors have recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $25,000. CWM LLC raised its holdings in shares of Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after buying an additional 523 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company’s stock valued at $41,000 after purchasing an additional 699 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Atlantic Union Bankshares during the 4th quarter valued at $72,000. Finally, Concord Wealth Partners increased its holdings in Atlantic Union Bankshares by 304.1% during the 1st quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock valued at $85,000 after purchasing an additional 2,053 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $33.11 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. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The company has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $32.34. The company has a market capitalization of $4.72 billion, a PE ratio of 14.46 and a beta of 0.86.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 4.11%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 62.10%.

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.