Atlantic Union Bankshares (NASDAQ:AUB) Given New $40.00 Price Target at Stephens

Atlantic Union Bankshares (NASDAQ:AUB) had its price target decreased by Stephens from $43.00 to $40.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ price target suggests a potential upside of 22.47% from the company’s previous close.

Separately, Raymond James raised their price target on shares of 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 Price Performance

AUB opened at $32.66 on Wednesday. The company’s 50 day simple moving average is $33.59 and its 200 day simple moving average is $33.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a 1 year low of $23.32 and a 1 year high of $37.86. The stock has a market capitalization of $2.46 billion, a PE ratio of 12.01 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The company had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, sell-side analysts expect that Atlantic Union Bankshares will post 3.24 EPS for the current year.

Insider Buying and Selling

In other news, Director Donald R. Kimble acquired 7,000 shares of Atlantic Union Bankshares stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the purchase, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds have recently added to or reduced their stakes in the company. Canal Capital Management LLC grew its holdings 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 valued at $2,348,000 after purchasing an additional 536 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter worth approximately $1,612,000. Maryland State Retirement & Pension System lifted its holdings in shares of 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 valued at $1,137,000 after acquiring an additional 4,942 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Atlantic Union Bankshares by 2.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 322,223 shares of the company’s stock valued at $11,378,000 after buying an additional 8,924 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in shares of Atlantic Union Bankshares by 51.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 31,291 shares of the company’s stock worth $1,105,000 after acquiring an additional 10,597 shares in 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 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.