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

Atlantic Union Bankshares (NASDAQ:AUB) had its price target reduced by Stephens from $43.00 to $40.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Raymond James boosted their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a report on Friday, January 5th.

Atlantic Union Bankshares Trading Down 0.6 %

AUB opened at $32.28 on Wednesday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 11.87 and a beta of 0.94. Atlantic Union Bankshares has a 52 week low of $23.32 and a 52 week high of $37.86. The business’s 50 day moving average is $33.55 and its two-hundred day moving average is $33.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 last year, the firm earned $0.63 EPS. On average, research analysts predict that Atlantic Union Bankshares will post 3.17 EPS for the current year.

Insider Activity

In other Atlantic Union Bankshares news, Director Donald R. Kimble purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the purchase, the director now directly owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Atlantic Union Bankshares

A number of institutional investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Atlantic Union Bankshares by 3.8% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 129,730 shares of the company’s stock valued at $4,581,000 after buying an additional 4,745 shares in the last quarter. Canal Capital Management LLC boosted its position in Atlantic Union Bankshares by 0.8% during the first quarter. Canal Capital Management LLC now owns 66,490 shares of the company’s stock worth $2,348,000 after purchasing an additional 536 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Atlantic Union Bankshares during the first quarter worth $1,612,000. Maryland State Retirement & Pension System boosted its position in Atlantic Union Bankshares by 18.1% during the first quarter. Maryland State Retirement & Pension System now owns 32,206 shares of the company’s stock worth $1,137,000 after purchasing an additional 4,942 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Atlantic Union Bankshares by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 322,223 shares of the company’s stock worth $11,378,000 after purchasing an additional 8,924 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 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.