Atlantic Union Bankshares (NASDAQ:AUB) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research note issued to investors on Wednesday,Benzinga reports. The firm issued an equal weight rating and a $32.00 price target on the stock.

Several other research firms also recently weighed in on AUB. Hovde Group dropped their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Keefe, Bruyette & Woods decreased their target price on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. Finally, Piper Sandler assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.33.

Atlantic Union Bankshares Trading Down 11.3 %

Shares of AUB stock traded down $2.99 on Wednesday, hitting $23.37. 616,576 shares of the stock traded hands, compared to its average volume of 823,027. Atlantic Union Bankshares has a twelve month low of $23.36 and a twelve month high of $44.54. The stock has a market capitalization of $2.11 billion, a PE ratio of 10.25 and a beta of 0.80. The firm’s 50-day moving average price is $33.31 and its two-hundred day moving average price is $36.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.36 annualized dividend and a dividend yield of 5.82%. Atlantic Union Bankshares’s dividend payout ratio is currently 59.39%.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of large investors have recently bought and sold shares of AUB. GAMMA Investing LLC raised its stake in Atlantic Union Bankshares by 27.3% in the 4th quarter. GAMMA Investing LLC now owns 1,325 shares of the company’s stock valued at $50,000 after purchasing an additional 284 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in Atlantic Union Bankshares by 5.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company’s stock valued at $244,000 after acquiring an additional 312 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Atlantic Union Bankshares by 5.9% during the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company’s stock worth $221,000 after purchasing an additional 326 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Atlantic Union Bankshares by 78.8% during the third 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. Finally, Pettyjohn Wood & White Inc. boosted its holdings in shares of Atlantic Union Bankshares by 5.2% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company’s stock worth $327,000 after purchasing an additional 425 shares during the last quarter. 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.