Atlantic Union Bankshares (NASDAQ:AUB) Price Target Cut to $35.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective cut by research analysts at Keefe, Bruyette & Woods from $36.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 7.16% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Stephens lowered their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday. Raymond James increased their price objective on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Trading Down 1.4 %

AUB stock opened at $32.66 on Wednesday. Atlantic Union Bankshares has a 52-week low of $23.32 and a 52-week high of $37.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $33.59 and its 200-day simple moving average is $33.13. The firm has a market cap of $2.46 billion, a P/E ratio of 12.01 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The business had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, equities analysts forecast that Atlantic Union Bankshares will post 3.24 EPS for the current fiscal year.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Donald R. Kimble acquired 7,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the acquisition, the director now owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AUB. Vanguard Group Inc. raised its stake in shares of Atlantic Union Bankshares by 1.2% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Atlantic Union Bankshares by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock worth $179,687,000 after acquiring an additional 28,655 shares during the period. The Manufacturers Life Insurance Company raised its position in Atlantic Union Bankshares by 0.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock worth $62,958,000 after acquiring an additional 10,969 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Atlantic Union Bankshares by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock valued at $52,975,000 after purchasing an additional 40,659 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Atlantic Union Bankshares by 0.3% in the 3rd quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock valued at $28,140,000 after purchasing an additional 3,364 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.