Atlantic Union Bankshares (NASDAQ:AUB) Price Target Cut to $40.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target cut by equities researchers at Stephens from $43.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 22.47% from the company’s current price.

Separately, Raymond James raised their target price on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $32.66 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares has a one year low of $23.32 and a one year high of $37.86. The company has a 50-day simple moving average of $33.59 and a two-hundred day simple moving average of $33.13. The firm has a market capitalization of $2.46 billion, a PE ratio of 12.01 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The company had revenue of $288.47 million during the quarter, compared to analysts’ expectations of $178.82 million. During the same quarter last year, the business earned $0.63 earnings per share. On average, analysts anticipate that Atlantic Union Bankshares will post 3.24 EPS for the current fiscal year.

Insider Activity at Atlantic Union Bankshares

In other news, Director Donald R. Kimble purchased 7,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the transaction, the director now directly owns 7,582 shares of the company’s stock, valued at $266,355.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted 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 valued at $339,487,000 after buying an additional 111,580 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Atlantic Union Bankshares by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after buying an additional 28,655 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Atlantic Union Bankshares by 0.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock valued at $62,958,000 after buying an additional 10,969 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Atlantic Union Bankshares by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock valued at $52,975,000 after buying an additional 40,659 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Atlantic Union Bankshares by 0.3% during the 3rd quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock valued at $28,140,000 after buying an additional 3,364 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.