Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Up - What's Next?

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.

Analysts Set New Price Targets

AUB has been the subject of a number of recent research reports. Hovde Group lowered their target price on Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, March 17th. Morgan Stanley assumed coverage on Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price objective for the company. Raymond James upgraded Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $37.00 to $41.00 in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Atlantic Union Bankshares Trading Down 1.6%

The business has a 50 day simple moving average of $28.21 and a two-hundred day simple moving average of $33.79. 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 $4.52 billion, a price-to-earnings ratio of 13.85 and a beta of 0.86.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Friday, May 23rd. Atlantic Union Bankshares's dividend payout ratio is presently 62.10%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $25,000. CWM LLC raised its holdings in shares of Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after purchasing an additional 523 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Atlantic Union Bankshares by 186.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock worth $41,000 after purchasing an additional 699 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth $72,000. Finally, Concord Wealth Partners raised its holdings in shares of Atlantic Union Bankshares by 304.1% during the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after purchasing an additional 2,053 shares during the period. Institutional investors and hedge funds 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.