Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Down – Should You Sell?

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares gapped down prior to trading on Monday . The stock had previously closed at $38.81, but opened at $37.06. Atlantic Union Bankshares shares last traded at $36.81, with a volume of 613,672 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on AUB. Raymond James dropped their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Hovde Group reduced their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Stock Down 5.7 %

The stock’s fifty day simple moving average is $37.80 and its 200-day simple moving average is $35.37. The stock has a market cap of $3.29 billion, a P/E ratio of 17.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The company had revenue of $212.20 million during the quarter, compared to the consensus estimate of $216.03 million. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts forecast that Atlantic Union Bankshares Co. will post 3.01 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 56.39%.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its stake in Atlantic Union Bankshares by 68.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock valued at $1,269,000 after purchasing an additional 14,760 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Atlantic Union Bankshares during the 1st quarter worth $783,000. Fifth Lane Capital LP acquired a new position in Atlantic Union Bankshares in the 1st quarter worth about $1,560,000. Sei Investments Co. raised its position in Atlantic Union Bankshares by 83.7% in the first quarter. Sei Investments Co. now owns 160,775 shares of the company’s stock valued at $5,677,000 after purchasing an additional 73,262 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Atlantic Union Bankshares by 106.4% during the first quarter. BNP Paribas Financial Markets now owns 43,507 shares of the company’s stock valued at $1,536,000 after purchasing an additional 22,432 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.