Atlantic Union Bankshares Co. (NYSE:AUB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Atlantic Union Bankshares Co. (NYSE:AUB) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.40.

A number of research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 28th. TD Cowen reduced their price objective on shares of Atlantic Union Bankshares from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings downgraded shares of Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 17th. Piper Sandler reissued an “overweight” rating and issued a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, Stephens restated an “overweight” rating and set a $46.00 target price on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th.

Atlantic Union Bankshares Price Performance

Shares of AUB opened at $37.62 on Friday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 11.23 and a beta of 0.80. The company’s fifty day simple moving average is $40.40 and its 200 day simple moving average is $39.37. Atlantic Union Bankshares has a 1-year low of $30.87 and a 1-year high of $43.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUB) last issued its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The business had revenue of $387.57 million during the quarter, compared to the consensus estimate of $389.06 million. During the same period last year, the business posted $0.95 EPS. Atlantic Union Bankshares’s revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that Atlantic Union Bankshares will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 7th. This represents a $1.48 annualized dividend and a yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 44.18%.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of AUB. Bank of America Corp DE boosted its holdings in shares of Atlantic Union Bankshares by 53.4% in the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock valued at $31,701,000 after purchasing an additional 308,934 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Atlantic Union Bankshares by 1,292.0% during the 4th quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock worth $3,752,000 after buying an additional 98,696 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Atlantic Union Bankshares by 286.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 149,189 shares of the company’s stock worth $6,312,000 after buying an additional 110,560 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 40.1% during the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after purchasing an additional 272,119 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Atlantic Union Bankshares by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock worth $272,883,000 after purchasing an additional 102,821 shares in 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 (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, residential and commercial lending, mortgages, credit cards, cash management, treasury services and online and mobile banking. Through its wealth management and investment services, it also provides financial planning, trust, brokerage and portfolio management solutions.

Atlantic Union Bank serves customers through a network of branches and digital channels across Virginia, Maryland and North Carolina, with a focus on the Mid-Atlantic region.