Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Up - Still a Buy?

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $31.30, but opened at $32.20. Atlantic Union Bankshares shares last traded at $32.28, with a volume of 332,513 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AUB. Morgan Stanley began coverage on shares of 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. Raymond James upgraded shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $37.00 to $41.00 in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of 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 target on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Hovde Group lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Atlantic Union Bankshares Stock Down 2.6%

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 company has a market cap of $4.38 billion, a price-to-earnings ratio of 13.41 and a beta of 0.86. The firm's fifty day simple moving average is $28.47 and its 200 day simple moving average is $33.63.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, May 23rd. Atlantic Union Bankshares's payout ratio is 62.10%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Atlantic Union Bankshares by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,681,103 shares of the company's stock valued at $215,201,000 after buying an additional 31,082 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Atlantic Union Bankshares by 6.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock valued at $85,676,000 after buying an additional 163,451 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Atlantic Union Bankshares by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after buying an additional 565,564 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new position in shares of Atlantic Union Bankshares in the 4th quarter valued at $78,942,000. Institutional investors and hedge funds own 78.58% of the company's stock.

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.