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

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

AUB has been the topic of a number of other research reports. Raymond James cut their price target on 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. Hovde Group cut their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $43.55 on Friday. The company has a market capitalization of $3.91 billion, a P/E ratio of 18.07 and a beta of 0.89. The company’s 50-day moving average is $38.93 and its 200 day moving average is $36.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a fifty-two week low of $30.22 and a fifty-two week high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The firm had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities research analysts forecast that Atlantic Union Bankshares will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 8th. This is a boost from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.12%. Atlantic Union Bankshares’s dividend payout ratio is currently 56.43%.

Institutional Trading of Atlantic Union Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Atlantic Union Bankshares by 78.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after acquiring an additional 410 shares in the last quarter. Stifel Financial Corp increased its position in shares of Atlantic Union Bankshares by 1.3% in the third quarter. Stifel Financial Corp now owns 32,485 shares of the company’s stock worth $1,224,000 after purchasing an additional 428 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Atlantic Union Bankshares by 5.5% in the third quarter. Oppenheimer & Co. Inc. now owns 8,616 shares of the company’s stock valued at $325,000 after purchasing an additional 450 shares in the last quarter. UMB Bank n.a. lifted its position in Atlantic Union Bankshares by 77.7% during the third quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after buying an additional 489 shares in 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.