Atlantic Union Bankshares (NASDAQ:AUB) Sets New 12-Month High – Here’s Why

Atlantic Union Bankshares Co. (NASDAQ:AUB) shares reached a new 52-week high on Wednesday . The company traded as high as $43.49 and last traded at $43.38, with a volume of 79097 shares traded. The stock had previously closed at $42.73.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AUB. Hovde Group lowered their price objective on 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. Raymond James dropped their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Stock Performance

The company’s fifty day moving average is $38.25 and its 200 day moving average is $36.19. The company has a market capitalization of $3.83 billion, a P/E ratio of 14.73 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $358.81 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.80 EPS. As a group, equities analysts anticipate that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.19%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is presently 56.43%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the period. UMB Bank n.a. boosted its holdings in Atlantic Union Bankshares by 77.7% in the 3rd 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 period. Quest Partners LLC bought a new position in Atlantic Union Bankshares in the 3rd quarter valued at $56,000. Blue Trust Inc. raised its position in shares of Atlantic Union Bankshares by 110.2% during the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after buying an additional 1,095 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of Atlantic Union Bankshares during the 2nd quarter valued at $85,000. 78.58% of the stock is owned by 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.