Brokerages Set Atlantic Union Bankshares Co. (NASDAQ:AUB) Price Target at $41.61

by · The Markets Daily

Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Free Report) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $41.6111.

A number of equities research analysts have commented on AUB shares. Cowen restated a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a research report on Wednesday, September 24th. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price on the stock. Morgan Stanley increased their target price 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 dropped their price target on shares of Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating for the company in a research note on Friday, October 24th.

Get Our Latest Research Report on Atlantic Union Bankshares

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $35.48 on Thursday. The company’s 50-day moving average is $34.30 and its two-hundred day moving average is $34.01. Atlantic Union Bankshares has a 1-year low of $22.85 and a 1-year high of $39.29. 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 firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 15.50 and a beta of 0.83.

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

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.37 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. This represents a $1.48 annualized dividend and a yield of 4.2%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 79.14%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock valued at $231,486,000 after acquiring an additional 1,457,647 shares during the period. North Reef Capital Management LP lifted its holdings in shares of Atlantic Union Bankshares by 35.0% during the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Atlantic Union Bankshares by 59.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock valued at $105,589,000 after purchasing an additional 1,255,064 shares during the period. Franklin Resources Inc. increased its stake in Atlantic Union Bankshares by 96.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock worth $103,631,000 after purchasing an additional 1,629,591 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Atlantic Union Bankshares by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 2,393,318 shares of the company’s stock worth $84,460,000 after buying an additional 174,122 shares during the period. 78.58% of the stock is owned by institutional investors and hedge funds.

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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