Hovde Group Trims Atlantic Union Bankshares (NASDAQ:AUB) Target Price to $45.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target reduced by Hovde Group from $46.00 to $45.00 in a report released on Friday, MarketBeat Ratings reports. Hovde Group currently has an outperform rating on the stock.

Separately, Keefe, Bruyette & Woods upped their price objective 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $40.00.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ:AUB opened at $37.73 on Friday. The firm’s 50 day simple moving average is $37.97 and its 200-day simple moving average is $34.75. 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 has a one year low of $26.91 and a one year high of $42.50. The firm has a market cap of $3.39 billion, a PE ratio of 13.87 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The firm had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that Atlantic Union Bankshares will post 3.04 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s payout ratio is 47.06%.

Institutional Trading of Atlantic Union Bankshares

Hedge funds have recently modified their holdings of the company. Dana Investment Advisors Inc. increased its position in shares of Atlantic Union Bankshares by 8.2% during the second quarter. Dana Investment Advisors Inc. now owns 43,179 shares of the company’s stock worth $1,418,000 after purchasing an additional 3,279 shares in the last quarter. Systematic Financial Management LP lifted its position in Atlantic Union Bankshares by 51.1% during the second quarter. Systematic Financial Management LP now owns 346,292 shares of the company’s stock valued at $11,376,000 after purchasing an additional 117,186 shares during the period. Algert Global LLC acquired a new stake in Atlantic Union Bankshares during the 2nd quarter worth about $296,000. Public Sector Pension Investment Board grew its position in Atlantic Union Bankshares by 28.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 197,549 shares of the company’s stock worth $6,489,000 after purchasing an additional 43,771 shares during the period. Finally, Profund Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 32.2% during the 2nd quarter. Profund Advisors LLC now owns 7,703 shares of the company’s stock valued at $253,000 after buying an additional 1,876 shares during the last quarter. 78.58% of the stock is 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.