Atlantic Union Bankshares (NASDAQ:AUB) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Atlantic Union Bankshares (NASDAQ:AUB) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Stephens raised their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Morgan Stanley increased their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. TD Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday, December 11th. Raymond James Financial set a $45.00 price target on Atlantic Union Bankshares in a report on Thursday, December 11th. Finally, Piper Sandler upped their price target on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $36.03 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares has a one year low of $22.85 and a one year high of $42.18. The business’s 50 day simple moving average is $37.76 and its two-hundred day simple moving average is $35.97. The stock has a market capitalization of $5.15 billion, a P/E ratio of 15.73 and a beta of 0.82.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The firm had revenue of $391.33 million during the quarter, compared to analyst estimates of $378.95 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Analysts forecast that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.37 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 4.1%. Atlantic Union Bankshares’s dividend payout ratio is 72.55%.

Institutional Investors Weigh In On Atlantic Union Bankshares

Large investors have recently modified their holdings of the stock. StoneX Group Inc. bought a new stake in Atlantic Union Bankshares during the 2nd quarter valued at approximately $1,447,000. Verity & Verity LLC raised its position in shares of Atlantic Union Bankshares by 29.6% in the 3rd quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock worth $17,801,000 after acquiring an additional 115,245 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Atlantic Union Bankshares by 10.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 659,791 shares of the company’s stock worth $23,284,000 after acquiring an additional 64,806 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Atlantic Union Bankshares in the 2nd quarter valued at approximately $2,378,000. Finally, Blue Trust Inc. lifted its stake in shares of Atlantic Union Bankshares by 323.3% in the 3rd quarter. Blue Trust Inc. now owns 55,463 shares of the company’s stock valued at $1,957,000 after purchasing an additional 42,361 shares during the period. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.