Atlantic Union Bankshares (NASDAQ:AUB) Reaches New 12-Month High Following Analyst Upgrade

Atlantic Union Bankshares Co. (NASDAQ:AUB)’s stock price reached a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $30.00 to $40.00. Barclays currently has an equal weight rating on the stock. Atlantic Union Bankshares traded as high as $37.80 and last traded at $37.52, with a volume of 4371 shares trading hands. The stock had previously closed at $36.60.

AUB has been the subject of a number of other research reports. Piper Sandler increased their price target on Atlantic Union Bankshares from $23.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. Zacks Investment Research upgraded Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Tuesday, December 22nd. Finally, TheStreet upgraded shares of Atlantic Union Bankshares from a “c+” rating to a “b” rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $33.25.

In other Atlantic Union Bankshares news, Director Frank Russell Ellett bought 3,000 shares of the stock in a transaction dated Wednesday, December 23rd. The shares were bought at an average cost of $32.06 per share, for a total transaction of $96,180.00. Following the purchase, the director now directly owns 6,708 shares of the company’s stock, valued at approximately $215,058.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Loreen A. Lagatta sold 2,800 shares of Atlantic Union Bankshares stock in a transaction on Monday, November 9th. The stock was sold at an average price of $29.90, for a total value of $83,720.00. Following the sale, the executive vice president now owns 13,000 shares in the company, valued at $388,700. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 7,000 shares of company stock valued at $227,070. 1.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. GW&K Investment Management LLC grew its position in Atlantic Union Bankshares by 1.7% in the third quarter. GW&K Investment Management LLC now owns 814,935 shares of the company’s stock worth $17,415,000 after acquiring an additional 13,645 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Atlantic Union Bankshares by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 606,776 shares of the company’s stock valued at $14,053,000 after acquiring an additional 10,860 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Atlantic Union Bankshares by 0.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 362,489 shares of the company’s stock worth $7,746,000 after buying an additional 3,320 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Atlantic Union Bankshares by 30.3% during the 3rd quarter. Jennison Associates LLC now owns 360,058 shares of the company’s stock worth $7,694,000 after buying an additional 83,768 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Atlantic Union Bankshares by 7.9% during the 3rd quarter. ProShare Advisors LLC now owns 332,808 shares of the company’s stock worth $7,112,000 after buying an additional 24,272 shares during the last quarter. 67.76% of the stock is owned by institutional investors and hedge funds.

The business’s 50-day moving average is $33.34 and its two-hundred day moving average is $29.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2.95 billion, a PE ratio of 19.16 and a beta of 1.41.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.52 by $0.22. The business had revenue of $171.79 million for the quarter, compared to analysts’ expectations of $169.63 million. Atlantic Union Bankshares had a net margin of 19.47% and a return on equity of 6.11%. On average, analysts predict that Atlantic Union Bankshares Co. will post 2 EPS for the current year.

Atlantic Union Bankshares Company Profile (NASDAQ:AUB)

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

Further Reading: Growth Stocks

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