TD Cowen Issues Positive Forecast for Atlantic Union Bankshares (NASDAQ:AUB) Stock Price

Atlantic Union Bankshares (NASDAQ:AUB) had its price target boosted by equities research analysts at TD Cowen from $44.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 23.54% from the company’s current price.

Several other brokerages also recently weighed in on AUB. Morgan Stanley upped their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Piper Sandler dropped their target price on Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Zacks Research lowered Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Stephens upped their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.89.

Atlantic Union Bankshares Trading Down 1.5%

Shares of Atlantic Union Bankshares stock traded down $0.56 during trading hours on Tuesday, hitting $36.43. The company’s stock had a trading volume of 135,408 shares, compared to its average volume of 1,069,889. The business has a fifty day moving average of $36.56 and a 200 day moving average of $36.41. Atlantic Union Bankshares has a 1-year low of $28.11 and a 1-year high of $42.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.21 billion, a PE ratio of 15.92 and a beta of 0.80.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $371.71 million for the quarter, compared to analyst estimates of $391.24 million. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, equities analysts forecast that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Insider Buying and Selling

In other Atlantic Union Bankshares news, Director Nancy H. Agee acquired 650 shares of the stock in a transaction on Monday, April 20th. The stock was purchased at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the purchase, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Atlantic Union Bankshares by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock worth $27,000 after acquiring an additional 390 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Atlantic Union Bankshares by 309.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock worth $30,000 after purchasing an additional 653 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after purchasing an additional 1,287 shares in the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.