Atlantic Union Bankshares (NASDAQ:AUB) Hits New 12-Month High – What’s Next?

by · The Cerbat Gem

Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.29 and last traded at $39.4240, with a volume of 794954 shares. The stock had previously closed at $37.36.

Analysts Set New Price Targets

A number of research firms have recently commented on AUB. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research report on Wednesday, September 24th. TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Janney Montgomery Scott started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 11th. Finally, Piper Sandler decreased their target price on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.61.

Read Our Latest Stock Report on Atlantic Union Bankshares

Atlantic Union Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average of $35.38 and a 200-day moving average of $34.52. The company has a market capitalization of $5.71 billion, a P/E ratio of 17.48 and a beta of 0.83.

Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). The firm had revenue of $319.21 million during the quarter, compared to analysts’ expectations of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company’s revenue was up 69.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, sell-side analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.37 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.7%. Atlantic Union Bankshares’s dividend payout ratio is currently 79.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Tritonpoint Wealth LLC raised its position in shares of Atlantic Union Bankshares by 1.8% during the 3rd quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company’s stock worth $618,000 after purchasing an additional 317 shares during the last quarter. Walleye Capital LLC increased its stake in Atlantic Union Bankshares by 1.5% during the 2nd quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock worth $688,000 after buying an additional 322 shares in the last quarter. Benson Investment Management Company Inc. raised its holdings in shares of Atlantic Union Bankshares by 0.3% during the third quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company’s stock valued at $3,799,000 after acquiring an additional 355 shares during the last quarter. Accordant Advisory Group Inc lifted its position in shares of Atlantic Union Bankshares by 1.0% in the third quarter. Accordant Advisory Group Inc now owns 36,245 shares of the company’s stock valued at $1,279,000 after acquiring an additional 364 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake 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 worth $27,000 after acquiring an additional 390 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

About Atlantic Union Bankshares

(Get Free Report)

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.

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