Atlantic Union Bankshares (NASDAQ:AUB) Price Target Lowered to $38.00 at Piper Sandler

Atlantic Union Bankshares (NASDAQ:AUB) had its price target lowered by Piper Sandler from $40.00 to $38.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.72% from the company’s previous close.

A number of other research firms have also weighed in on AUB. Stephens lowered their target price on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods dropped their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Raymond James raised their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $31.74 on Monday. The stock has a 50-day moving average of $33.53 and a 200-day moving average of $33.23. Atlantic Union Bankshares has a one year low of $23.32 and a one year high of $37.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $2.39 billion, a PE ratio of 11.67 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The firm had revenue of $288.47 million for the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts predict that Atlantic Union Bankshares will post 3.17 EPS for the current fiscal year.

Insider Buying and Selling at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Donald R. Kimble purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the purchase, the director now owns 7,582 shares of the company’s stock, valued at approximately $266,355.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new stake in Atlantic Union Bankshares during the fourth quarter worth about $1,370,000. Charles Schwab Investment Management Inc. grew its position in Atlantic Union Bankshares by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock valued at $17,154,000 after acquiring an additional 26,362 shares during the last quarter. London Co. of Virginia lifted its holdings in shares of Atlantic Union Bankshares by 8.7% in the 3rd quarter. London Co. of Virginia now owns 677,922 shares of the company’s stock worth $19,511,000 after acquiring an additional 54,498 shares during the last quarter. Northern Trust Corp boosted its stake 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. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Atlantic Union Bankshares by 62.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock valued at $9,162,000 after purchasing an additional 121,806 shares during 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.