Atlantic Union Bankshares (NASDAQ:AUB) Price Target Raised to $46.00

Atlantic Union Bankshares (NASDAQ:AUB) had its target price lifted by Keefe, Bruyette & Woods from $42.00 to $46.00 in a report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Hovde Group decreased their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Raymond James lowered their price target on 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $42.63 on Friday. The firm’s 50 day moving average is $38.82 and its two-hundred day moving average is $36.61. The firm has a market capitalization of $3.83 billion, a P/E ratio of 17.69 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares has a 52 week low of $30.22 and a 52 week high of $43.57.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.80 earnings per share. Analysts anticipate that Atlantic Union Bankshares will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.34 dividend. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.19%. Atlantic Union Bankshares’s payout ratio is 56.43%.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of hedge funds have recently modified their holdings of AUB. Nomura Asset Management Co. Ltd. boosted its position in shares of Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after purchasing an additional 410 shares during the period. Stifel Financial Corp lifted its stake in Atlantic Union Bankshares by 1.3% during the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock valued at $1,224,000 after buying an additional 428 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Atlantic Union Bankshares by 5.5% in the third quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock worth $325,000 after buying an additional 450 shares during the period. UMB Bank n.a. increased its position 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Atlantic Union Bankshares by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after acquiring an additional 489 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.