Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Down to $33.57

Atlantic Union Bankshares Co. (NASDAQ:AUB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $33.57, but opened at $32.05. Atlantic Union Bankshares shares last traded at $32.71, with a volume of 33,622 shares traded.

Analyst Ratings Changes

Separately, Raymond James lifted their price objective on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

The company has a market cap of $2.45 billion, a PE ratio of 13.21 and a beta of 0.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $33.62 and its two-hundred day simple moving average is $33.11.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Tuesday, January 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $179.72 million. Atlantic Union Bankshares had a net margin of 19.31% and a return on equity of 9.51%. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, research analysts anticipate that Atlantic Union Bankshares Co. will post 3.24 earnings per share for the current fiscal year.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.93%. The ex-dividend date was Thursday, February 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 50.39%.

Insiders Place Their Bets

In related news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the transaction, the director now owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.

Institutional Trading of Atlantic Union Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of AUB. Norges Bank acquired a new stake in Atlantic Union Bankshares during the 4th quarter valued at approximately $18,902,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Atlantic Union Bankshares during the 3rd quarter valued at approximately $14,416,000. Ceredex Value Advisors LLC acquired a new stake in Atlantic Union Bankshares during the 3rd quarter valued at approximately $10,995,000. Franklin Resources Inc. lifted its stake in Atlantic Union Bankshares by 41.5% during the 4th quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock valued at $32,626,000 after acquiring an additional 261,825 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Atlantic Union Bankshares by 112.0% during the 4th quarter. Hsbc Holdings PLC now owns 464,349 shares of the company’s stock valued at $17,068,000 after acquiring an additional 245,357 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Company Profile

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.