Brokerages Set Atlantic Union Bankshares Co. (NASDAQ:AUB) Price Target at $39.00

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $39.00.

A number of equities analysts recently issued reports on the company. Hovde Group decreased their price objective on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Keefe, Bruyette & Woods decreased their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Finally, Morgan Stanley assumed coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective for the company.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB traded down $0.00 during trading on Friday, hitting $30.06. 1,560,339 shares of the company traded hands, compared to its average volume of 1,061,835. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 13.13 and a beta of 0.86. The business's fifty day moving average is $28.75 and its 200-day moving average is $33.38. Atlantic Union Bankshares has a one year low of $22.85 and a one year high of $44.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio (DPR) is presently 62.10%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several hedge funds have recently modified their holdings of the company. HighPoint Advisor Group LLC increased its position in shares of Atlantic Union Bankshares by 5.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 6,292 shares of the company's stock valued at $244,000 after purchasing an additional 312 shares during the period. Atria Investments Inc boosted its stake in shares of Atlantic Union Bankshares by 5.9% during the 4th quarter. Atria Investments Inc now owns 5,834 shares of the company's stock worth $221,000 after acquiring an additional 326 shares in the last quarter. Xponance Inc. boosted its stake in shares of Atlantic Union Bankshares by 5.8% during the 1st quarter. Xponance Inc. now owns 6,798 shares of the company's stock worth $212,000 after acquiring an additional 374 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of Atlantic Union Bankshares by 0.8% during the 1st quarter. Corebridge Financial Inc. now owns 48,026 shares of the company's stock worth $1,496,000 after acquiring an additional 396 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its stake in shares of Atlantic Union Bankshares by 5.2% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,625 shares of the company's stock worth $327,000 after acquiring an additional 425 shares in the last quarter. 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.