Atlantic Union Bankshares (NASDAQ:AUB) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research note published on Monday morning, Marketbeat.com reports. The firm issued an overweight rating and a $51.00 target price on the stock.

AUB has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Raymond James decreased their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.60.

Atlantic Union Bankshares Trading Up 0.8 %

Shares of AUB opened at $38.05 on Monday. The stock’s fifty day simple moving average is $40.22 and its 200-day simple moving average is $38.49. The firm has a market capitalization of $3.42 billion, a PE ratio of 12.10 and a beta of 0.93. Atlantic Union Bankshares has a 12-month low of $30.43 and a 12-month high of $44.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The company had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period in the prior year, the company posted $0.80 EPS. As a group, research analysts predict that Atlantic Union Bankshares will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.34 dividend. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.57%. Atlantic Union Bankshares’s payout ratio is 56.43%.

Institutional Trading of Atlantic Union Bankshares

Several hedge funds have recently added to or reduced their stakes in AUB. Nomura Asset Management Co. Ltd. increased its holdings in shares of Atlantic Union Bankshares by 78.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 489 shares in the last quarter. UMB Bank n.a. increased its stake in Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after purchasing an additional 483 shares in the last quarter. Quest Partners LLC acquired a new stake in Atlantic Union Bankshares during the 3rd quarter worth approximately $56,000. Finally, Blue Trust Inc. lifted its stake in Atlantic Union Bankshares by 110.2% in the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after buying an additional 1,095 shares in the last quarter. Institutional investors and hedge funds 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.