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

Atlantic Union Bankshares Co. (NYSE:AUB) has received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $44.1250.

A number of research analysts have weighed in on the company. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Morgan Stanley increased their price target on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Weiss Ratings began coverage on shares of Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating on the stock. 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. Finally, TD Cowen boosted their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday.

Institutional Investors Weigh In On Atlantic Union Bankshares

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Atlantic Union Bankshares by 1.4% during the first 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 during the period. State Street Corp raised its position 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 valued at $231,486,000 after purchasing an additional 1,457,647 shares during the last quarter. North Reef Capital Management LP lifted 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 worth $161,395,000 after buying an additional 858,486 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Atlantic Union Bankshares in the 4th quarter worth approximately $87,022,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after buying an additional 565,564 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Trading Down 0.1%

NYSE AUB opened at $42.18 on Monday. The firm has a market capitalization of $6.04 billion, a P/E ratio of 12.59 and a beta of 0.79. The business has a fifty day simple moving average of $40.02 and a 200 day simple moving average of $38.50. Atlantic Union Bankshares has a 12 month low of $30.39 and a 12 month 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 posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $387.57 million for the quarter, compared to analysts’ expectations of $389.06 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Atlantic Union Bankshares will post 3.76 EPS for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 7th. Atlantic Union Bankshares’s payout ratio is currently 44.18%.

About Atlantic Union Bankshares

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.