Atlantic Union Bankshares (NASDAQ:AUB) PT Lowered to $40.00

Atlantic Union Bankshares (NASDAQ:AUB - Free Report) had its price objective reduced by Stephens from $43.00 to $40.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Raymond James raised their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded up $0.30 during midday trading on Wednesday, reaching $33.18. The company's stock had a trading volume of 590,021 shares, compared to its average volume of 417,438. The stock has a market capitalization of $2.50 billion, a P/E ratio of 12.80 and a beta of 0.94. Atlantic Union Bankshares has a 12-month low of $23.32 and a 12-month high of $37.86. The firm has a 50 day moving average price of $33.63 and a 200-day moving average price of $33.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a net margin of 19.31% and a return on equity of 9.51%. The firm had revenue of $288.47 million during the quarter, compared to the consensus estimate of $178.82 million. During the same period in the prior year, the company earned $0.63 EPS. As a group, equities analysts predict that Atlantic Union Bankshares will post 3.24 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 8th. Atlantic Union Bankshares's dividend payout ratio is presently 50.39%.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Donald R. Kimble purchased 7,000 shares of the company's stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $35.13 per share, for a total transaction of $245,910.00. Following the purchase, the director now directly owns 7,582 shares of the company's stock, valued at approximately $266,355.66. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.28% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AUB. Norges Bank purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter valued at $18,902,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Atlantic Union Bankshares in the 3rd quarter valued at $14,416,000. Ceredex Value Advisors LLC bought a new stake in Atlantic Union Bankshares in the 3rd quarter valued at $10,995,000. Franklin Resources Inc. increased its holdings in Atlantic Union Bankshares by 41.5% in the 4th quarter. Franklin Resources Inc. now owns 892,883 shares of the company's stock valued at $32,626,000 after acquiring an additional 261,825 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Atlantic Union Bankshares by 112.0% in the 4th quarter. Hsbc Holdings PLC now owns 464,349 shares of the company's stock valued at $17,068,000 after acquiring an additional 245,357 shares during the last quarter. Hedge funds and other institutional investors 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.