Atlantic Union Bankshares (NASDAQ:AUB) Shares Gap Down – Here’s What Happened

Atlantic Union Bankshares Co. (NASDAQ:AUB) 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 traded.

Analysts Set New Price Targets

Several research analysts have weighed in on AUB shares. Keefe, Bruyette & Woods upped their price target on 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. Hovde Group lowered their price target 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. Finally, Raymond James cut their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Atlantic Union Bankshares Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $37.81 and its 200 day moving average price is $35.39. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 13.40 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $358.81 million for the quarter, compared to the consensus estimate of $226.70 million. During the same period last year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Atlantic Union Bankshares Co. will post 3.01 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in Atlantic Union Bankshares during the 3rd quarter worth about $7,660,000. Raymond James & Associates grew its holdings in shares of Atlantic Union Bankshares by 3.9% during the third quarter. Raymond James & Associates now owns 126,157 shares of the company’s stock worth $4,752,000 after buying an additional 4,763 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Atlantic Union Bankshares by 110.2% in the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock valued at $79,000 after purchasing an additional 1,095 shares during the period. Trust Point Inc. raised its position in Atlantic Union Bankshares by 2.0% during the 3rd quarter. Trust Point Inc. now owns 25,998 shares of the company’s stock worth $979,000 after buying an additional 513 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new position in Atlantic Union Bankshares during the third quarter worth about $202,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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.