Atlantic Union Bankshares (NASDAQ:AUB) Hits New 1-Year High – What’s Next?

Atlantic Union Bankshares Co. (NASDAQ:AUB)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $41.98 and last traded at $41.28, with a volume of 47900 shares trading hands. The stock had previously closed at $40.52.

Analyst Ratings Changes

AUB has been the topic of several recent analyst reports. 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 objective on Atlantic Union Bankshares in a research note on Thursday, December 11th. Piper Sandler lifted their target price on Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday. Stephens increased their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, Morgan Stanley raised their price target on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Atlantic Union Bankshares Stock Up 1.2%

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 18.24 and a beta of 0.83. The business has a fifty day moving average of $37.21 and a 200 day moving average of $35.11.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. The company had revenue of $391.33 million for the quarter, compared to analyst estimates of $378.95 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the prior year, the business posted $0.67 EPS. On average, equities analysts predict that Atlantic Union Bankshares Co. will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, February 13th. Atlantic Union Bankshares’s payout ratio is 72.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Atlantic Union Bankshares by 55.1% during the second quarter. Janney Montgomery Scott LLC now owns 60,541 shares of the company’s stock worth $1,894,000 after buying an additional 21,513 shares during the last quarter. StoneX Group Inc. bought a new stake in Atlantic Union Bankshares during the 2nd quarter worth approximately $1,447,000. Verity & Verity LLC increased its holdings in Atlantic Union Bankshares by 29.6% during the 3rd quarter. Verity & Verity LLC now owns 504,420 shares of the company’s stock valued at $17,801,000 after purchasing an additional 115,245 shares in the last quarter. Creative Planning increased its holdings in Atlantic Union Bankshares by 738.9% during the 2nd quarter. Creative Planning now owns 95,445 shares of the company’s stock valued at $2,986,000 after purchasing an additional 84,068 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. bought a new position in Atlantic Union Bankshares in the 2nd quarter valued at $2,378,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.