Atlantic Union Bankshares Co. (NYSE:AUB) Stock Has Average Price Target of $46.33

Key Points

• Analysts maintain a moderately bullish view of Atlantic Union Bankshares, with five buy ratings and three holds among eight analysts. The average 12-month price target is $46.33, above the stock’s reported $38.83 price.
• The company exceeded quarterly earnings expectations, reporting $0.94 in EPS versus a $0.92 consensus, while revenue rose 3.1% year over year to $387.57 million, slightly below estimates.
• Atlantic Union Bankshares pays a quarterly dividend of $0.37, equivalent to $1.48 annually and a 3.8% yield. Institutional investors own 78.58% of the company’s shares.

Atlantic Union Bankshares Co. (NYSE:AUB - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $46.33.

A number of analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday. Piper Sandler reissued an "overweight" rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Stephens restated an "overweight" rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Finally, Weiss Ratings cut shares of Atlantic Union Bankshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 17th.

Atlantic Union Bankshares Stock Up 0.9%

Shares of NYSE:AUB opened at $38.83 on Friday. The company has a market capitalization of $5.55 billion, a PE ratio of 11.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average price of $40.67 and a two-hundred day moving average price of $39.25. Atlantic Union Bankshares has a 1 year low of $30.87 and a 1 year high of $43.62.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.02. The company had revenue of $387.57 million for the quarter, compared to analysts' expectations of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. Analysts forecast that Atlantic Union Bankshares will post 3.76 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 7th. Atlantic Union Bankshares's dividend payout ratio (DPR) is currently 44.18%.

Institutional Trading of Atlantic Union Bankshares

A number of institutional investors have recently modified their holdings of the business. Beacon Investment Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 0.7% during the 4th quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company's stock valued at $1,216,000 after purchasing an additional 249 shares during the period. Arizona State Retirement System increased its position in shares of Atlantic Union Bankshares by 0.8% during the second quarter. Arizona State Retirement System now owns 39,473 shares of the company's stock valued at $1,670,000 after buying an additional 307 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Atlantic Union Bankshares by 25.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company's stock valued at $55,000 after buying an additional 318 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Atlantic Union Bankshares by 3.6% in the fourth quarter. CIBC Asset Management Inc now owns 13,399 shares of the company's stock worth $473,000 after buying an additional 468 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Atlantic Union Bankshares by 4.4% in the second quarter. Benjamin Edwards Inc. now owns 12,888 shares of the company's stock valued at $545,000 after acquiring an additional 540 shares during the period. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation NYSE: AUB is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, residential and commercial lending, mortgages, credit cards, cash management, treasury services and online and mobile banking. Through its wealth management and investment services, it also provides financial planning, trust, brokerage and portfolio management solutions.

Atlantic Union Bank serves customers through a network of branches and digital channels across Virginia, Maryland and North Carolina, with a focus on the Mid-Atlantic region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.