Atlantic Union Bankshares (NASDAQ:AUB) Sees Unusually-High Trading Volume – Time to Buy?

Atlantic Union Bankshares Co. (NASDAQ:AUB) saw unusually-high trading volume on Wednesday . Approximately 530,585 shares traded hands during trading, an increase of 6% from the previous session’s volume of 499,341 shares.The stock last traded at $41.56 and had previously closed at $37.86.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Hovde Group lowered their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Keefe, Bruyette & Woods upped their price target on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Raymond James dropped their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

Atlantic Union Bankshares Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.87 billion, a PE ratio of 17.21 and a beta of 0.89. The stock has a fifty day moving average price of $37.77 and a 200-day moving average price of $35.76.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $358.81 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.80 earnings per share. Sell-side analysts forecast that Atlantic Union Bankshares Co. will post 3.05 EPS for the current fiscal year.

Atlantic Union Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.15%. This is an increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 53.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after acquiring an additional 489 shares during the period. UMB Bank n.a. grew its stake in 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 purchasing an additional 483 shares in the last quarter. Blue Trust Inc. raised its position in 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 purchasing an additional 1,095 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Atlantic Union Bankshares during the second quarter worth about $85,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Atlantic Union Bankshares in the 1st quarter valued at $179,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Company Profile

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.