Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Down - Should You Sell?

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $38.81, but opened at $37.06. Atlantic Union Bankshares shares last traded at $36.81, with a volume of 613,672 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AUB shares. Keefe, Bruyette & Woods boosted their target price on Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Hovde Group decreased 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. Finally, Raymond James cut their target price on shares of 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average target price of $40.40.

Atlantic Union Bankshares Stock Down 6.7 %

The firm's fifty day moving average is $37.80 and its 200-day moving average is $35.37. The company has a market capitalization of $3.25 billion, a P/E ratio of 15.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.05). The firm had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. Atlantic Union Bankshares's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, equities research analysts predict that Atlantic Union Bankshares Co. will post 3.01 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, August 9th. Atlantic Union Bankshares's payout ratio is presently 56.39%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Atlantic Union Bankshares during the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of Atlantic Union Bankshares by 88.6% during 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. UMB Bank n.a. grew its position in shares of Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company's stock worth $42,000 after buying an additional 483 shares during the period. Blue Trust Inc. increased its stake in shares of Atlantic Union Bankshares by 110.2% in the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company's stock valued at $79,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Atlantic Union Bankshares during the 2nd quarter valued at $85,000. Institutional investors own 78.58% of the company's stock.

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.