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

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares reached a new 52-week high on Wednesday . The stock traded as high as $43.49 and last traded at $43.38, with a volume of 79097 shares. The stock had previously closed at $42.73.

Analyst Upgrades and Downgrades

Several research firms recently commented on AUB. Keefe, Bruyette & Woods raised their target price on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Raymond James cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Hovde Group dropped their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Trading Down 0.5 %

The firm has a 50-day moving average price of $38.08 and a 200-day moving average price of $36.10. 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 market capitalization of $3.82 billion, a PE ratio of 14.78 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities analysts forecast that Atlantic Union Bankshares Co. will post 2.93 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.20%. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 56.43%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Atlantic Union Bankshares by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after buying an additional 483 shares during the period. Quest Partners LLC purchased a new position in shares of Atlantic Union Bankshares during the 3rd quarter valued at about $56,000. Blue Trust Inc. boosted its position in shares of Atlantic Union Bankshares by 110.2% in the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after purchasing an additional 1,095 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of Atlantic Union Bankshares during the 2nd quarter valued at $85,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.