Atlantic Union Bankshares (NYSE:AUB) Stock Gets Price Target Boost from Morgan Stanley

Key Points

• Morgan Stanley raised Atlantic Union Bankshares’ price target from $49 to $50 while maintaining an “equal weight” rating, implying 28.87% upside from the prior close.
• Analyst sentiment remains moderately bullish: five analysts rate the stock a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and average price target of $46.33.
• Atlantic Union Bankshares reported quarterly EPS of $0.94, beating estimates of $0.92, while revenue rose 3.1% year over year to $387.57 million.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) had its target price upped by Morgan Stanley from $49.00 to $50.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 28.87% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. TD Cowen increased their price target on Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered Atlantic Union Bankshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average price target of $46.33.

Atlantic Union Bankshares Price Performance

AUB opened at $38.80 on Monday. Atlantic Union Bankshares has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The firm has a 50-day moving average of $41.06 and a 200 day moving average of $39.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $5.54 billion, a P/E ratio of 11.58 and a beta of 0.78.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.02. Atlantic Union Bankshares had a net margin of 21.97% and a return on equity of 10.55%. The firm had revenue of $387.57 million for the quarter, compared to analysts' expectations of $389.06 million. During the same period in the previous year, the company earned $0.95 earnings per share. The company's quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that Atlantic Union Bankshares will post 3.76 EPS for the current year.

Institutional Trading of Atlantic Union Bankshares

A number of hedge funds have recently made changes to their positions in AUB. IFP Advisors Inc boosted its holdings in shares of Atlantic Union Bankshares by 362.5% in the 4th quarter. IFP Advisors Inc now owns 740 shares of the company's stock worth $26,000 after purchasing an additional 580 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth approximately $39,000. Nykredit A S purchased a new stake in shares of Atlantic Union Bankshares in the 2nd quarter valued at $51,000. EverSource Wealth Advisors LLC raised its position in Atlantic Union Bankshares by 25.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company's stock worth $55,000 after purchasing an additional 318 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Atlantic Union Bankshares in the first quarter worth $104,000. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses, nonprofit organizations and public-sector clients.

The bank's products and services include deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, mortgage banking, treasury management, cash management, wealth management and investment services.

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