Atlantic Union Bankshares (NASDAQ:AUB) Sees Strong Trading Volume Following Strong Earnings

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 467,414 shares traded hands during trading, an increase of 3% from the previous session's volume of 451,662 shares.The stock last traded at $36.15 and had previously closed at $36.21.

The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The company had revenue of $358.81 million for the quarter, compared to analysts' expectations of $226.70 million. During the same quarter in the prior year, the company posted $0.80 earnings per share.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 3.51%. Atlantic Union Bankshares's payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

AUB has been the topic of a number of recent analyst reports. Raymond James decreased their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. Hovde Group cut their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.40.

Institutional Trading of Atlantic Union Bankshares

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Atlantic Union Bankshares by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company's stock worth $339,487,000 after buying an additional 111,580 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Atlantic Union Bankshares by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,681,290 shares of the company's stock valued at $186,626,000 after buying an additional 690,400 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Atlantic Union Bankshares by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,658,342 shares of the company's stock worth $87,327,000 after acquiring an additional 30,586 shares in the last quarter. Victory Capital Management Inc. lifted its position in Atlantic Union Bankshares by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,595,728 shares of the company's stock valued at $52,420,000 after acquiring an additional 128,447 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Atlantic Union Bankshares by 45.3% in the second quarter. Bank of New York Mellon Corp now owns 1,180,199 shares of the company's stock valued at $38,770,000 after acquiring an additional 368,190 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Union Bankshares Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 13.29 and a beta of 0.89. The firm's 50 day simple moving average is $37.81 and its 200-day simple moving average is $35.39.

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.