Atlantic Union Bankshares (NASDAQ:AUB) Sets New 1-Year High – Here’s What Happened

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB) hit a new 52-week high during trading 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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AUB. Keefe, Bruyette & Woods increased their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report 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 note on Friday, September 13th. Finally, Raymond James dropped their price target on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Price Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $37.85 and its 200 day moving average is $35.81. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 17.89 and a beta of 0.89.

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

Atlantic Union Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, November 8th. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. Atlantic Union Bankshares’s dividend payout ratio is presently 56.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AUB. Dimensional Fund Advisors LP increased its holdings in shares of Atlantic Union Bankshares by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock worth $186,626,000 after acquiring an additional 690,400 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Atlantic Union Bankshares by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company’s stock valued at $87,327,000 after purchasing an additional 30,586 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Atlantic Union Bankshares by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company’s stock valued at $52,420,000 after purchasing an additional 128,447 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Atlantic Union Bankshares by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company’s stock worth $38,770,000 after buying an additional 368,190 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Atlantic Union Bankshares by 9.6% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 612,181 shares of the company’s stock worth $20,110,000 after buying an additional 53,740 shares during the period. 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.