Atlantic Union Bankshares (NASDAQ:AUB) Sets New 12-Month High – Still a Buy?

Atlantic Union Bankshares Co. (NASDAQ:AUB)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $43.28 and last traded at $43.20, with a volume of 197977 shares. The stock had previously closed at $43.14.

Wall Street Analysts Forecast Growth

AUB has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Hovde Group reduced their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, Raymond James lowered their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Atlantic Union Bankshares Price Performance

The company has a fifty day simple moving average of $37.85 and a two-hundred day simple moving average of $35.81. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 17.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, equities research analysts expect that Atlantic Union Bankshares Co. will post 3.05 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.34 per share. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.24%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 56.43%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Atlantic Union Bankshares by 77.7% in the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Atlantic Union Bankshares in the 3rd quarter valued at approximately $56,000. Blue Trust Inc. grew its holdings in shares of Atlantic Union Bankshares by 110.2% during the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in Atlantic Union Bankshares in the second quarter valued at approximately $85,000. Institutional investors 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.