Atlantic Union Bankshares (NYSE:AUB) Stock Gets Price Target Reduction from TD Cowen

Atlantic Union Bankshares (NYSE:AUB) had its price target reduced by TD Cowen from $44.00 to $43.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

AUB has been the subject of several other reports. Weiss Ratings raised shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Piper Sandler reissued an “overweight” rating and set a $47.00 price objective on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, Morgan Stanley increased their price objective on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Atlantic Union Bankshares Stock Down 0.4%

Atlantic Union Bankshares stock opened at $39.94 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. Atlantic Union Bankshares has a 12-month low of $30.87 and a 12-month high of $43.62. The firm’s fifty day moving average is $39.39 and its 200 day moving average is $39.59. The company has a market capitalization of $5.70 billion, a PE ratio of 10.91 and a beta of 0.80.

Atlantic Union Bankshares (NYSE:AUB) last issued its earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. Atlantic Union Bankshares’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, sell-side analysts predict that Atlantic Union Bankshares will post 3.77 EPS for the current fiscal year.

Institutional Trading of Atlantic Union Bankshares

Several hedge funds have recently bought and sold shares of AUB. Dimensional Fund Advisors LP grew its position in Atlantic Union Bankshares by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock valued at $272,883,000 after purchasing an additional 102,821 shares during the period. Congress Asset Management Co. increased its stake in Atlantic Union Bankshares by 1.2% during the 3rd quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company’s stock valued at $96,078,000 after purchasing an additional 30,528 shares in the last quarter. Principal Financial Group Inc. increased its stake in Atlantic Union Bankshares by 40.1% during the 1st quarter. Principal Financial Group Inc. now owns 951,373 shares of the company’s stock valued at $34,002,000 after purchasing an additional 272,119 shares in the last quarter. Bank of America Corp DE raised its holdings in Atlantic Union Bankshares by 53.4% during the first quarter. Bank of America Corp DE now owns 886,978 shares of the company’s stock worth $31,701,000 after buying an additional 308,934 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Atlantic Union Bankshares by 20.8% during the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company’s stock worth $30,514,000 after buying an additional 124,135 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.