Atlantic Union Bankshares Co. (NYSE:AUB) Receives $43.62 Consensus Target Price from Analysts

Shares of Atlantic Union Bankshares Co. (NYSE:AUB) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.1250.

AUB has been the subject of several recent analyst reports. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday. Weiss Ratings initiated coverage on Atlantic Union Bankshares in a research note on Monday, July 6th. They set a “buy (b-)” rating on the stock. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th.

Atlantic Union Bankshares Price Performance

AUB opened at $42.18 on Monday. The company has a fifty day moving average price of $40.02 and a two-hundred day moving average price of $38.48. The firm has a market capitalization of $6.04 billion, a PE ratio of 12.59 and a beta of 0.79. Atlantic Union Bankshares has a 52 week low of $30.39 and a 52 week high of $43.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.93.

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

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.48 annualized dividend and a yield of 3.5%. Atlantic Union Bankshares’s dividend payout ratio is 62.71%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Atlantic Union Bankshares by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after buying an additional 102,821 shares during the period. State Street Corp increased its stake in Atlantic Union Bankshares by 24.5% during the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after acquiring an additional 1,457,647 shares during the period. North Reef Capital Management LP raised its holdings in Atlantic Union Bankshares by 23.1% in the 4th quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock valued at $161,395,000 after acquiring an additional 858,486 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Atlantic Union Bankshares in the fourth quarter valued at about $87,022,000. Finally, Goldman Sachs Group Inc. raised its stake in Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock valued at $66,548,000 after purchasing an additional 565,564 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.