Piper Sandler Begins Coverage on Atlantic Union Bankshares (NASDAQ:AUB)

Piper Sandler assumed coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research report released on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $51.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Raymond James reduced their price objective on shares of 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. Keefe, Bruyette & Woods increased their price target on Atlantic Union Bankshares from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. One 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 has an average rating of “Moderate Buy” and an average price target of $44.60.

Atlantic Union Bankshares Trading Up 0.8 %

NASDAQ AUB opened at $38.05 on Monday. Atlantic Union Bankshares has a 52 week low of $30.43 and a 52 week high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50 day moving average price is $40.22 and its two-hundred day moving average price is $38.49. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 12.10 and a beta of 0.93.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, November 8th. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.57%. Atlantic Union Bankshares’s payout ratio is currently 56.43%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Atlantic Union Bankshares by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company’s stock valued at $186,626,000 after buying an additional 690,400 shares during the period. Franklin Resources Inc. raised its stake in Atlantic Union Bankshares by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after acquiring an additional 270,470 shares during the period. State Street Corp raised its stake in Atlantic Union Bankshares by 3.0% in the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company’s stock valued at $169,214,000 after acquiring an additional 130,104 shares during the period. Renaissance Technologies LLC acquired a new stake in Atlantic Union Bankshares during the 2nd quarter valued at $4,096,000. Finally, Systematic Financial Management LP boosted its position in Atlantic Union Bankshares by 51.1% during the second quarter. Systematic Financial Management LP now owns 346,292 shares of the company’s stock worth $11,376,000 after purchasing an additional 117,186 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.