Atlantic Union Bankshares (NASDAQ:AUB) Cut to Hold at Zacks Research

Zacks Research lowered shares of Atlantic Union Bankshares (NASDAQ:AUB) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

AUB has been the topic of a number of other research reports. Piper Sandler upped their price target on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, February 5th. TD Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Stephens boosted their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Raymond James Financial set a $45.00 target price on Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, Morgan Stanley raised their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $36.11 on Tuesday. The stock’s 50-day moving average is $37.68 and its 200-day moving average is $35.97. The stock has a market cap of $5.17 billion, a P/E ratio of 15.77 and a beta of 0.81. Atlantic Union Bankshares has a 1-year low of $22.85 and a 1-year high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $391.33 million for the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the previous year, the business earned $0.67 earnings per share. Equities research analysts anticipate that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 4.1%. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several large investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in Atlantic Union Bankshares by 362.5% during the 4th quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after purchasing an additional 390 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Atlantic Union Bankshares by 309.5% during the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after purchasing an additional 653 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new position in shares of Atlantic Union Bankshares during the fourth quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.