Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 12-Month High on Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB) hit a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $42.00 to $45.00. Morgan Stanley currently has an equal weight rating on the stock. Atlantic Union Bankshares traded as high as $42.22 and last traded at $42.1450, with a volume of 558783 shares changing hands. The stock had previously closed at $41.86.

A number of other analysts have also commented on AUB. Piper Sandler boosted their price objective on Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Stephens reiterated an “overweight” rating and issued a $46.00 target price on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Finally, TD Cowen boosted their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $43.62.

Insider Activity

In other Atlantic Union Bankshares news, Director Nancy H. Agee acquired 650 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average price of $39.05 per share, with a total value of $25,382.50. Following the completion of the acquisition, the director owned 37,797 shares in the company, valued at $1,475,972.85. This represents a 1.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlantic Union Bankshares

Several large investors have recently bought and sold shares of AUB. AQR Capital Management LLC increased its stake in Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock worth $1,305,000 after acquiring an additional 36,196 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Atlantic Union Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company’s stock worth $1,658,000 after purchasing an additional 2,322 shares during the period. Goldman Sachs Group Inc. lifted its position in Atlantic Union Bankshares by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company’s stock worth $66,548,000 after buying an additional 565,564 shares during the period. Empowered Funds LLC purchased a new position in shares of Atlantic Union Bankshares during the 1st quarter worth about $3,011,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Atlantic Union Bankshares by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock worth $7,766,000 after purchasing an additional 22,078 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Stock Performance

The company has a market cap of $6.01 billion, a price-to-earnings ratio of 18.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day simple moving average is $38.18 and its two-hundred day simple moving average is $37.65.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. During the same quarter in the previous year, the company earned $0.90 EPS. Equities research analysts anticipate that Atlantic Union Bankshares Co. will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 62.71%.

About Atlantic Union Bankshares

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.