Atlantic Union Bankshares (NASDAQ:AUB) Now Covered by TD Cowen

TD Cowen assumed coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $46.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler dropped their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 25th. Raymond James Financial reissued a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.43.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $35.56 on Thursday. The firm has a market capitalization of $5.07 billion, a PE ratio of 15.53 and a beta of 0.90. The business’s fifty day moving average price is $34.17 and its 200 day moving average price is $31.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares has a 12 month low of $22.85 and a 12 month high of $44.54.

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

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Atlantic Union Bankshares’s payout ratio is 66.02%.

Insider Transactions at Atlantic Union Bankshares

In related news, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the acquisition, the director owned 76,606 shares of the company’s stock, valued at approximately $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 18,941 shares of company stock worth $606,502. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its holdings in shares of Atlantic Union Bankshares by 180.7% during the second quarter. Osaic Holdings Inc. now owns 50,511 shares of the company’s stock worth $1,580,000 after buying an additional 32,518 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Atlantic Union Bankshares by 23.5% during the second quarter. Orion Porfolio Solutions LLC now owns 50,248 shares of the company’s stock worth $1,572,000 after buying an additional 9,556 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Atlantic Union Bankshares by 157.9% during the second quarter. Geneos Wealth Management Inc. now owns 13,142 shares of the company’s stock worth $411,000 after buying an additional 8,046 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 10.4% during the second quarter. Westwood Holdings Group Inc. now owns 2,376,734 shares of the company’s stock worth $74,344,000 after buying an additional 224,267 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Atlantic Union Bankshares by 17.7% during the second quarter. Public Sector Pension Investment Board now owns 485,737 shares of the company’s stock worth $15,194,000 after buying an additional 72,921 shares during the last quarter. Hedge funds and other institutional investors own 78.58% 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, time deposit, and money market accounts; certificates of deposit; and other depository services.