Atlantic Union Bankshares Co. (NASDAQ:AUB) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Atlantic Union Bankshares Co. (NASDAQ:AUB) has received a consensus rating of "Moderate Buy" from six analysts, with an average price target of $38.33.
• Insider transactions indicate confidence in the company, as CEO John C. Asbury and a director both purchased shares recently, increasing their positions.
• The company announced a quarterly dividend of $0.34, reflecting a dividend yield of 3.8% and a payout ratio of 66.02%.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $38.3333.

Several analysts have issued reports on AUB shares. Keefe, Bruyette & Woods boosted their price objective on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a report on Wednesday, July 30th. Finally, Piper Sandler cut their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th.

Insider Activity at Atlantic Union Bankshares

In other news, CEO John C. Asbury purchased 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, with a total value of $246,825.00. Following the purchase, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Russell Ellett purchased 1,441 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $31.49 per share, with a total value of $45,377.09. Following the purchase, the director owned 78,047 shares in the company, valued at $2,457,700.03. This represents a 1.88% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,941 shares of company stock valued at $606,502. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Atlantic Union Bankshares by 8.9% during the first quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after purchasing an additional 978,793 shares during the period. State Street Corp boosted its position in Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock worth $231,486,000 after purchasing an additional 1,457,647 shares during the period. Geode Capital Management LLC boosted its position in 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 worth $105,589,000 after purchasing an additional 1,255,064 shares during the period. Franklin Resources Inc. boosted its position in Atlantic Union Bankshares by 96.8% during the second quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company's stock worth $103,631,000 after purchasing an additional 1,629,591 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock worth $85,676,000 after purchasing an additional 163,451 shares during the period. Institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $36.06 on Tuesday. The company's 50-day moving average price is $33.99 and its two-hundred day moving average price is $31.25. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.14 billion, a PE ratio of 15.75 and a beta of 0.90. Atlantic Union Bankshares has a 52 week low of $22.85 and a 52 week high of $44.54.

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

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Atlantic Union Bankshares's dividend payout ratio is currently 66.02%.

About Atlantic Union Bankshares

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.

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