Atlantic Union Bankshares (NASDAQ:AUB) Now Covered by Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage of Atlantic Union Bankshares, assigning a buy rating and a price target of $46.00, indicating a potential upside of 28.83% from the stock's last close.
• Other analysts have mixed ratings on the stock, with one strong buy, four buys, and two holds, resulting in an average rating of Moderate Buy and an average price target of $39.43.
• Atlantic Union Bankshares recently reported strong earnings with an EPS of $0.95, surpassing estimates and reflecting a 91.3% increase in revenue compared to the same quarter last year.

Stock analysts at TD Cowen assumed coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) in a research note issued to investors on Thursday. The firm set a "buy" rating and a $46.00 price target on the stock. TD Cowen's price target suggests a potential upside of 28.83% from the company's previous close.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and an average price target of $39.43.

Atlantic Union Bankshares Trading Down 0.2%

NASDAQ:AUB opened at $35.71 on Thursday. Atlantic Union Bankshares has a 52 week low of $22.85 and a 52 week high of $44.54. The firm has a 50 day moving average of $34.13 and a 200 day moving average of $31.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 15.59 and a beta of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Atlantic Union Bankshares's revenue for the quarter was up 92.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlantic Union Bankshares will post 3.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, CEO John C. Asbury purchased 7,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the transaction, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett purchased 1,441 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were 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 of the company's stock, valued at $2,457,700.03. This trade represents a 1.88% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,941 shares of company stock worth $606,502. 0.87% of the stock is owned by company insiders.

Institutional Trading of Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new stake in Atlantic Union Bankshares during the first quarter valued at $25,000. Curio Wealth LLC purchased a new position in Atlantic Union Bankshares during the second quarter valued at $28,000. CWM LLC lifted its holdings in Atlantic Union Bankshares by 99.4% during the first quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares in the last quarter. Huntington National Bank lifted its holdings in Atlantic Union Bankshares by 71.7% during the second quarter. Huntington National Bank now owns 1,298 shares of the company's stock valued at $41,000 after purchasing an additional 542 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Atlantic Union Bankshares by 64.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company's stock valued at $48,000 after purchasing an additional 603 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.

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