Atlantic Union Bankshares (NASDAQ:AUB) Stock Rating Upgraded by Raymond James

Atlantic Union Bankshares (NASDAQ:AUB) was upgraded by Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Tuesday,Finviz reports. The firm currently has a $41.00 price target on the stock. Raymond James’ price target would suggest a potential upside of 30.93% from the company’s current price.

A number of other brokerages have also weighed in on AUB. Jefferies Financial Group set a $37.00 price objective on Atlantic Union Bankshares and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Morgan Stanley started coverage on shares of Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Hovde Group dropped their target price on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Atlantic Union Bankshares Price Performance

AUB stock opened at $31.32 on Tuesday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 13.67 and a beta of 0.86. The firm’s 50-day moving average price is $27.98 and its two-hundred day moving average price is $33.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares has a 12-month low of $22.85 and a 12-month high of $44.54.

Institutional Investors Weigh In On Atlantic Union Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Atlantic Union Bankshares during the fourth quarter valued at $6,957,000. Sandy Spring Bank lifted its position in Atlantic Union Bankshares by 598.2% during the 4th quarter. Sandy Spring Bank now owns 38,654 shares of the company’s stock valued at $1,464,000 after acquiring an additional 33,118 shares during the period. Deutsche Bank AG lifted its position in Atlantic Union Bankshares by 50.3% during the 4th quarter. Deutsche Bank AG now owns 77,693 shares of the company’s stock valued at $2,943,000 after acquiring an additional 26,000 shares during the period. Raymond James Financial Inc. bought a new stake in Atlantic Union Bankshares during the fourth quarter worth about $6,923,000. Finally, Vanguard Group Inc. grew its holdings in Atlantic Union Bankshares by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock worth $414,926,000 after purchasing an additional 27,604 shares during the period. 78.58% of the stock is 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.