Atlantic Union Bankshares (NASDAQ:AUB) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research note published on Monday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $51.00 target price on the stock.

A number of other equities research analysts have also weighed in on the company. Raymond James lowered their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their target price on Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average price target of $44.60.

Atlantic Union Bankshares Price Performance

AUB opened at $35.71 on Monday. Atlantic Union Bankshares has a 12-month low of $30.43 and a 12-month high of $44.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $40.22 and a 200-day moving average price of $38.45. The stock has a market capitalization of $3.21 billion, a P/E ratio of 14.82 and a beta of 0.93.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The company had revenue of $358.81 million during the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the previous year, the company posted $0.80 EPS. Equities analysts predict that Atlantic Union Bankshares will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.34 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.81%. Atlantic Union Bankshares’s dividend payout ratio is presently 56.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AUB. Texas Permanent School Fund Corp grew its holdings in shares of Atlantic Union Bankshares by 1.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 66,894 shares of the company’s stock worth $2,197,000 after acquiring an additional 1,235 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Atlantic Union Bankshares by 18.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 24,144 shares of the company’s stock worth $793,000 after acquiring an additional 3,757 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Atlantic Union Bankshares by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after acquiring an additional 690,400 shares during the period. Salzhauer Michael grew its holdings in shares of Atlantic Union Bankshares by 37.7% during the 2nd quarter. Salzhauer Michael now owns 22,713 shares of the company’s stock worth $746,000 after acquiring an additional 6,215 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Atlantic Union Bankshares during the 2nd quarter worth approximately $4,096,000. 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.