Atlantic Union Bankshares (NASDAQ:AUB) Given New $35.00 Price Target at Keefe, Bruyette & Woods

Atlantic Union Bankshares (NASDAQ:AUB) had its target price decreased by Keefe, Bruyette & Woods from $36.00 to $35.00 in a report published on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other equities analysts have also weighed in on AUB. Stephens reduced their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday. Raymond James lifted their price objective on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a research note on Friday, January 5th.

Atlantic Union Bankshares Stock Up 0.9 %

Shares of NASDAQ:AUB opened at $33.18 on Wednesday. The stock’s 50-day moving average price is $33.63 and its two-hundred day moving average price is $33.14. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a 12-month low of $23.32 and a 12-month high of $37.86. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 11.07 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The business had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same period in the previous year, the business posted $0.63 earnings per share. On average, research analysts forecast that Atlantic Union Bankshares will post 3.24 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.28 annualized dividend and a dividend yield of 3.86%. Atlantic Union Bankshares’s payout ratio is currently 47.06%.

Insider Activity at Atlantic Union Bankshares

In related news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the acquisition, the director now owns 7,582 shares in the company, valued at approximately $266,355.66. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Atlantic Union Bankshares

Hedge funds have recently modified their holdings of the stock. Canal Capital Management LLC increased its holdings in Atlantic Union Bankshares by 0.8% during the 1st quarter. Canal Capital Management LLC now owns 66,490 shares of the company’s stock worth $2,348,000 after purchasing an additional 536 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $1,612,000. Maryland State Retirement & Pension System increased its holdings in Atlantic Union Bankshares by 18.1% during the 1st quarter. Maryland State Retirement & Pension System now owns 32,206 shares of the company’s stock worth $1,137,000 after purchasing an additional 4,942 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Atlantic Union Bankshares by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 322,223 shares of the company’s stock worth $11,378,000 after purchasing an additional 8,924 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its holdings in Atlantic Union Bankshares by 51.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 31,291 shares of the company’s stock worth $1,105,000 after purchasing an additional 10,597 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.