Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 1-Year High After Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB) hit a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $42.00 to $46.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Atlantic Union Bankshares traded as high as $43.74 and last traded at $43.74, with a volume of 10017 shares traded. The stock had previously closed at $42.63.

AUB has been the subject of several other reports. Raymond James decreased their target price on shares of 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. Hovde Group decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Trading of Atlantic Union Bankshares

Several institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Atlantic Union Bankshares by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 80,536 shares of the company’s stock valued at $2,845,000 after purchasing an additional 3,346 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Atlantic Union Bankshares by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,209 shares of the company’s stock valued at $1,773,000 after buying an additional 2,741 shares in the last quarter. EMC Capital Management acquired a new stake in Atlantic Union Bankshares during the first quarter valued at approximately $199,000. First Hawaiian Bank lifted its holdings in Atlantic Union Bankshares by 17.6% during the 2nd quarter. First Hawaiian Bank now owns 19,648 shares of the company’s stock worth $645,000 after buying an additional 2,938 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Atlantic Union Bankshares by 69.9% in the 2nd quarter. SG Americas Securities LLC now owns 19,122 shares of the company’s stock worth $628,000 after acquiring an additional 7,868 shares in the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

The company has a 50-day moving average of $38.93 and a 200-day moving average of $36.67. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 17.66 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. During the same period in the prior year, the company earned $0.80 earnings per share. On average, equities research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.34 dividend. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Friday, November 8th. Atlantic Union Bankshares’s payout ratio is presently 56.43%.

About Atlantic Union Bankshares

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.