Atlantic Union Bankshares (NASDAQ:AUB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Atlantic Union Bankshares had its target price increased from $33.00 to $34.00 by Keefe, Bruyette & Woods, indicating a potential upside of 8.96% from the stock's previous close.
• The company reported $0.95 EPS for its last quarter, exceeding analysts' expectations of $0.80, with a significant revenue increase of 92.0% year-over-year.
• Institutional investors have shown increased interest, with significant stakes acquired by firms like North Reef Capital Management and Ameriprise Financial, indicating strong confidence in the company's growth potential.

Atlantic Union Bankshares (NASDAQ:AUB - Free Report) had its price objective upped by Keefe, Bruyette & Woods from $33.00 to $34.00 in a research report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other analysts also recently issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Atlantic Union Bankshares in a research report on Wednesday, July 30th. Piper Sandler cut their target price 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. Morgan Stanley started coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Finally, Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Trading Up 1.2%

Shares of NASDAQ AUB traded up $0.38 during midday trading on Monday, reaching $31.77. 201,748 shares of the stock were exchanged, compared to its average volume of 1,459,291. 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 has a 12 month low of $22.85 and a 12 month high of $44.54. The business has a 50-day simple moving average of $31.84 and a two-hundred day simple moving average of $31.75. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 13.87 and a beta of 0.88.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its earnings results 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. The firm had revenue of $377.22 million for the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The company's revenue for the quarter was up 92.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, equities research analysts expect that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.3%. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 66.02%.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett purchased 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $31.54 per share, with a total value of $157,700.00. Following the transaction, the director owned 76,606 shares of the company's stock, valued at approximately $2,416,153.24. This trade represents a 6.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Asbury purchased 7,500 shares of the business's 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 17,500 shares of company stock worth $561,125. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Atlantic Union Bankshares by 12.2% in the 4th quarter. LPL Financial LLC now owns 86,859 shares of the company's stock worth $3,290,000 after buying an additional 9,454 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Atlantic Union Bankshares by 342.2% in the 4th quarter. JPMorgan Chase & Co. now owns 402,247 shares of the company's stock worth $15,237,000 after purchasing an additional 311,290 shares during the period. Norges Bank purchased a new stake in shares of Atlantic Union Bankshares during the 4th quarter worth about $6,957,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Atlantic Union Bankshares in the fourth quarter worth $212,000. Finally, Wellington Management Group LLP acquired a new position in shares of Atlantic Union Bankshares during the fourth quarter worth about $2,580,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.