Atlantic Union Bankshares (NASDAQ:AUB) Hits New 52-Week High After Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares reached a new 52-week high during trading 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 changing hands. The stock had previously closed at $42.63.

Several other research analysts also recently issued reports on the company. Raymond James reduced their price objective on 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 lowered their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after purchasing an additional 410 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after acquiring an additional 489 shares during the period. UMB Bank n.a. increased its stake in shares of Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares during the period. Quest Partners LLC acquired a new position in Atlantic Union Bankshares during the third quarter worth about $56,000. Finally, Blue Trust Inc. grew its position in Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after buying an additional 1,095 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 2.6 %

The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 14.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day simple moving average is $38.82 and its two-hundred day simple moving average is $36.61.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly 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 the consensus estimate of $226.70 million. During the same quarter last year, the firm posted $0.80 earnings per share. Sell-side analysts predict that Atlantic Union Bankshares Co. will post 2.93 EPS 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. Stockholders of record on Friday, November 8th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.11%. Atlantic Union Bankshares’s payout ratio is 56.43%.

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.