Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 52-Week High After Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report)'s share price reached a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $42.00 to $46.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Atlantic Union Bankshares traded as high as $43.74 and last traded at $43.74, with a volume of 10017 shares. The stock had previously closed at $42.63.

Other equities analysts have also issued reports about the stock. Raymond James decreased 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 report on Wednesday, October 2nd. Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Institutional Investors Weigh In On Atlantic Union Bankshares

Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Atlantic Union Bankshares during the third quarter worth approximately $121,000. Geode Capital Management LLC boosted its position in shares of Atlantic Union Bankshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company's stock valued at $77,836,000 after acquiring an additional 14,823 shares during the last quarter. Barclays PLC grew its holdings in shares of Atlantic Union Bankshares by 132.3% in the third quarter. Barclays PLC now owns 186,876 shares of the company's stock valued at $7,039,000 after purchasing an additional 106,415 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company's stock worth $35,000 after purchasing an additional 410 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Atlantic Union Bankshares during the third quarter worth about $563,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Stock Performance

The firm's 50 day moving average price is $38.93 and its two-hundred day moving average price is $36.67. The firm has a market cap of $3.91 billion, a PE ratio of 18.07 and a beta of 0.89. 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 (NASDAQ:AUB - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.01. The company had revenue of $358.81 million for the quarter, compared to analysts' expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, research analysts forecast that Atlantic Union Bankshares Co. will post 2.93 earnings per share for the current year.

Atlantic Union Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.34 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 3.12%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 56.43%.

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.