Analysts Set Atlantic Union Bankshares Co. (NASDAQ:AUB) PT at $38.33

Key Points

• Atlantic Union Bankshares Co. has received a consensus rating of “Moderate Buy” from analysts, with a 12-month target price averaging $38.33.
• CEO John C. Asbury and Director Frank Russell Ellett recently increased their stakes in the company by purchasing shares valued at nearly $246,825 and $45,377, respectively.
• The company reported a net margin of 15.53% and an annualized dividend yield of 3.8%, highlighting strong financial performance with a 92% revenue growth year-over-year.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $38.3333.

Several analysts have weighed in on AUB shares. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th.

Atlantic Union Bankshares Stock Performance

AUB stock traded up $0.06 during midday trading on Friday, reaching $35.51. 702,978 shares of the company were exchanged, compared to its average volume of 1,416,157. The business has a 50-day moving average price of $33.28 and a two-hundred day moving average price of $31.30. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 15.51 and a beta of 0.90. Atlantic Union Bankshares has a one year low of $22.85 and a one year high of $44.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business's revenue was up 92.0% on a year-over-year basis. Equities research analysts forecast that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.36 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is currently 66.02%.

Insider Activity

In related news, CEO John C. Asbury bought 7,500 shares of the company's stock in a transaction dated Monday, July 28th. The stock was purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer owned 270,532 shares of the company's stock, valued at $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Russell Ellett bought 1,441 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $31.49 per share, with a total value of $45,377.09. Following the acquisition, the director directly owned 78,047 shares of the company's stock, valued at approximately $2,457,700.03. The trade was a 1.88% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 18,941 shares of company stock valued at $606,502 in the last ninety days. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after buying an additional 978,793 shares during the last quarter. State Street Corp raised its stake in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock valued at $231,486,000 after acquiring an additional 1,457,647 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atlantic Union Bankshares by 59.2% during the second quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company's stock valued at $105,589,000 after acquiring an additional 1,255,064 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Atlantic Union Bankshares by 96.8% during the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company's stock valued at $103,631,000 after acquiring an additional 1,629,591 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock valued at $85,676,000 after acquiring an additional 163,451 shares during the last quarter. Institutional investors own 78.58% of the company's stock.

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.