Atlantic Union Bankshares (NASDAQ:AUB) Price Target Lowered to $45.00 at Piper Sandler

Atlantic Union Bankshares (NASDAQ:AUB) had its price target trimmed by Piper Sandler from $46.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on AUB. Keefe, Bruyette & Woods dropped their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Raymond James Financial upgraded Atlantic Union Bankshares from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $37.00 to $41.00 in a report on Tuesday, June 10th. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a “buy” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley began coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $33.08 on Friday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 14.44 and a beta of 0.86. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day moving average is $31.45 and its 200-day moving average is $32.07.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $377.22 million for the quarter, compared to the consensus estimate of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The firm’s quarterly revenue was up 92.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Equities research analysts expect that Atlantic Union Bankshares will post 3.26 EPS for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, August 4th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.36 annualized dividend and a dividend yield of 4.11%. Atlantic Union Bankshares’s payout ratio is 62.10%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several large investors have recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Atlantic Union Bankshares during the first quarter worth approximately $25,000. CWM LLC boosted its position in Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company’s stock worth $33,000 after purchasing an additional 523 shares during the period. Investment Management Corp VA ADV bought a new stake in Atlantic Union Bankshares during the fourth quarter worth approximately $72,000. Fifth Third Bancorp boosted its position in Atlantic Union Bankshares by 50.2% during the second quarter. Fifth Third Bancorp now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 686 shares during the period. Finally, Concord Wealth Partners boosted its position in Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company’s stock worth $85,000 after purchasing an additional 2,053 shares during the period. Institutional investors own 78.58% of the company’s stock.

About Atlantic Union Bankshares

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.