TD Cowen Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $44.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective decreased by TD Cowen from $46.00 to $44.00 in a research report report published on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on AUB. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Atlantic Union Bankshares in a report on Friday, October 24th. Keefe, Bruyette & Woods increased their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. National Bankshares set a $46.00 price target on Atlantic Union Bankshares in a report on Wednesday, September 24th. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Morgan Stanley raised their target price on Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.61.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $32.76 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company’s 50 day simple moving average is $35.09 and its 200-day simple moving average is $32.22. Atlantic Union Bankshares has a 12-month low of $22.85 and a 12-month high of $44.54. The firm has a market cap of $4.67 billion, a PE ratio of 14.31 and a beta of 0.87.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $319.21 million for the quarter, compared to analyst estimates of $377.92 million. During the same period in the prior year, the business earned $0.83 earnings per share. Atlantic Union Bankshares’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, equities analysts predict that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Insider Buying and Selling

In related news, Director Frank Russell Ellett acquired 1,441 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the transaction, the director owned 78,047 shares in the company, valued at $2,457,700.03. This trade represents a 1.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 11,441 shares of company stock worth $359,677. Company insiders own 1.16% of the company’s stock.

Institutional Trading of Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUB. Tred Avon Family Wealth LLC purchased a new stake in Atlantic Union Bankshares in the 3rd quarter valued at about $519,000. First National Advisers LLC grew its holdings in Atlantic Union Bankshares by 4.8% in the 3rd quarter. First National Advisers LLC now owns 15,436 shares of the company’s stock valued at $545,000 after buying an additional 706 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Atlantic Union Bankshares by 31.4% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 121,425 shares of the company’s stock valued at $4,285,000 after buying an additional 29,010 shares during the period. Oliver Luxxe Assets LLC grew its holdings in Atlantic Union Bankshares by 2.3% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 46,482 shares of the company’s stock valued at $1,640,000 after buying an additional 1,056 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Atlantic Union Bankshares by 4.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,451 shares of the company’s stock valued at $369,000 after buying an additional 485 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.