Atlantic Union Bankshares (NASDAQ:AUB) Price Target Raised to $46.00 at Keefe, Bruyette & Woods

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

Several other equities research analysts also recently weighed in on AUB. Hovde Group lowered their price target on 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 decreased their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $42.63 on Friday. Atlantic Union Bankshares has a 1-year low of $30.22 and a 1-year high of $43.57. The stock’s 50-day moving average is $38.82 and its 200 day moving average is $36.57. The company has a market cap of $3.83 billion, a P/E ratio of 14.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $0.80 earnings per share. Research analysts predict that Atlantic Union Bankshares will post 2.93 earnings per share for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

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

Institutional Trading of Atlantic Union Bankshares

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in shares of Atlantic Union Bankshares by 68.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 36,209 shares of the company’s stock worth $1,269,000 after purchasing an additional 14,760 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Atlantic Union Bankshares during the second quarter worth approximately $4,096,000. Bank of New York Mellon Corp boosted its stake in Atlantic Union Bankshares by 45.3% during the second 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. International Assets Investment Management LLC acquired a new position in Atlantic Union Bankshares during the third quarter worth $7,660,000. Finally, Pinnacle Associates Ltd. boosted its stake in Atlantic Union Bankshares by 8.6% during the third quarter. Pinnacle Associates Ltd. now owns 290,468 shares of the company’s stock worth $10,614,000 after buying an additional 23,087 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.