Atlantic Union Bankshares (NYSE:AUB) Price Target Raised to $50.00

Atlantic Union Bankshares (NYSE:AUB) had its price objective raised by Morgan Stanley from $49.00 to $50.00 in a report published on Monday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 17th. Stephens reissued an “overweight” rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, TD Cowen lifted their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

Atlantic Union Bankshares Stock Performance

AUB opened at $37.99 on Monday. Atlantic Union Bankshares has a 52-week low of $30.87 and a 52-week high of $43.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $5.43 billion, a P/E ratio of 11.34 and a beta of 0.78. The firm’s 50-day moving average price is $40.81 and its 200-day moving average price is $39.23.

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

Atlantic Union Bankshares Announces Dividend

The firm also recently declared 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 of this dividend was Friday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 44.18%.

Institutional Trading of Atlantic Union Bankshares

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised 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 last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $34,002,000 after purchasing an additional 272,119 shares during the last quarter. Bank of America Corp DE grew its position in Atlantic Union Bankshares by 53.4% during the 1st quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after purchasing an additional 308,934 shares during the period. Wellington Management Group LLP grew its position in Atlantic Union Bankshares by 20.8% during the 2nd quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after purchasing an additional 124,135 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Atlantic Union Bankshares by 36.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 829,469 shares of the company’s stock worth $29,645,000 after purchasing an additional 223,210 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

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.