Analysts Set Atlantic Union Bankshares Co. (NASDAQ:AUB) PT at $38.17

Atlantic Union Bankshares Co. (NASDAQ:AUB) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $38.3333.

Several research firms recently issued reports on AUB. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday. Morgan Stanley initiated coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective on the stock. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Finally, Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a “buy” rating in a research note on Wednesday, May 21st.

Atlantic Union Bankshares Trading Up 0.1%

Shares of Atlantic Union Bankshares stock opened at $31.71 on Monday. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The business’s fifty day moving average is $31.82 and its two-hundred day moving average is $31.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.52 billion, a PE ratio of 13.85 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The firm had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The firm’s revenue for the quarter was up 92.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts anticipate that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares’s payout ratio is presently 66.02%.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the purchase, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Atlantic Union Bankshares

Several large investors have recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new stake in Atlantic Union Bankshares during the 1st quarter valued at $25,000. Curio Wealth LLC purchased a new stake in Atlantic Union Bankshares in the 2nd quarter worth about $28,000. CWM LLC boosted its position in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares during the period. Huntington National Bank grew its stake in Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company’s stock valued at $41,000 after acquiring an additional 542 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Atlantic Union Bankshares by 50.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock valued at $64,000 after purchasing an additional 686 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.