Atlantic Union Bankshares Co. (NYSE:AUB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Atlantic Union Bankshares Co. (NYSE:AUB) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $46.1429.

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price objective on shares of Atlantic Union Bankshares in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Morgan Stanley reaffirmed a “reduce” rating and set a $49.00 price target on shares of Atlantic Union Bankshares in a report on Tuesday, September 8th. 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 report on Wednesday, July 22nd. Finally, Stephens restated an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors and hedge funds have recently modified their holdings of AUB. UBS Group AG grew its position in Atlantic Union Bankshares by 10.9% during the fourth quarter. UBS Group AG now owns 475,259 shares of the company’s stock valued at $16,777,000 after buying an additional 46,867 shares during the period. Bank of America Corp DE increased its holdings in Atlantic Union Bankshares by 53.4% during the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock valued at $31,701,000 after buying an additional 308,934 shares during the last quarter. Hsbc Holdings PLC raised its position in Atlantic Union Bankshares by 1,292.0% in the fourth quarter. Hsbc Holdings PLC now owns 106,335 shares of the company’s stock worth $3,752,000 after acquiring an additional 98,696 shares during the period. Principal Financial Group Inc. raised its position in Atlantic Union Bankshares by 40.1% in the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock worth $34,002,000 after acquiring an additional 272,119 shares during the period. Finally, AlphaCore Capital LLC purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter worth $1,941,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $39.93 on Tuesday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 11.92 and a beta of 0.78. The business’s fifty day simple moving average is $41.62 and its two-hundred day simple moving average is $39.06. Atlantic Union Bankshares has a 12 month low of $30.87 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 results 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. The firm had revenue of $387.57 million during the quarter, compared to analysts’ expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. Research analysts anticipate that Atlantic Union Bankshares will post 3.76 earnings per share for the current fiscal year.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio is presently 44.18%.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation 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, nonprofit organizations and public-sector clients.

The bank’s products and services include deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, mortgage banking, treasury management, cash management, wealth management and investment services.