Analysts Set Atlantic Union Bankshares Co. (NASDAQ:AUB) PT at $43.17

Atlantic Union Bankshares Co. (NASDAQ:AUB) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.1667.

Several analysts recently weighed in on AUB shares. Morgan Stanley lifted their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Stephens raised their target price on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Zacks Research raised shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, Raymond James Financial set a $45.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th.

Atlantic Union Bankshares Trading Up 1.3%

NASDAQ AUB opened at $34.73 on Tuesday. The stock has a market cap of $4.95 billion, a P/E ratio of 15.17 and a beta of 0.82. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $42.18. The stock has a 50 day simple moving average of $38.14 and a two-hundred day simple moving average of $35.98. 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 (NASDAQ:AUB) last posted its earnings results on Thursday, January 22nd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.11. The firm had revenue of $391.33 million for the quarter, compared to analysts’ expectations of $378.95 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same period in the previous year, the firm earned $0.67 earnings per share. On average, analysts forecast that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.3%. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AUB. T. Rowe Price Investment Management Inc. purchased a new stake in Atlantic Union Bankshares in the fourth quarter worth $87,022,000. Congress Asset Management Co. lifted its position in Atlantic Union Bankshares by 1,022.6% during the third quarter. Congress Asset Management Co. now owns 1,877,188 shares of the company’s stock valued at $66,246,000 after buying an additional 1,709,975 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Atlantic Union Bankshares by 96.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock valued at $103,631,000 after buying an additional 1,629,591 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Atlantic Union Bankshares by 6,808.0% during the 4th quarter. SG Americas Securities LLC now owns 1,532,473 shares of the company’s stock valued at $54,096,000 after buying an additional 1,510,289 shares in the last quarter. Finally, State Street Corp grew its position in shares of Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after buying an additional 1,457,647 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.