Atlantic Union Bankshares (NASDAQ:AUB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Atlantic Union Bankshares (NASDAQ:AUB) had its price target upped by Keefe, Bruyette & Woods from $42.00 to $46.00 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

AUB has been the topic of several other reports. Raymond James lowered their price target on 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. Hovde Group decreased their target price on 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Atlantic Union Bankshares Stock Up 1.8 %

AUB opened at $42.63 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 17.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day moving average price of $38.82 and a 200 day moving average price of $36.61. Atlantic Union Bankshares has a twelve month low of $30.22 and a twelve month high of $43.57.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data 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 business had revenue of $358.81 million during the quarter, compared to analysts’ expectations of $226.70 million. During the same period in the previous year, the company earned $0.80 earnings per share. Research analysts forecast that Atlantic Union Bankshares will post 2.93 EPS for the current year.

Atlantic Union Bankshares Increases Dividend

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

Hedge Funds Weigh In On Atlantic Union Bankshares

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Atlantic Union Bankshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock valued at $77,836,000 after purchasing an additional 14,823 shares during the period. Barclays PLC boosted its stake in Atlantic Union Bankshares by 132.3% during the third quarter. Barclays PLC now owns 186,876 shares of the company’s stock worth $7,039,000 after buying an additional 106,415 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after buying an additional 410 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at $563,000. Finally, MML Investors Services LLC lifted its holdings in shares of Atlantic Union Bankshares by 11.0% during the 3rd quarter. MML Investors Services LLC now owns 8,797 shares of the company’s stock worth $331,000 after acquiring an additional 869 shares during the period. Institutional investors and hedge funds 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.