Atlantic Union Bankshares (NASDAQ:AUB) Price Target Raised to $34.00

Key Points

• Atlantic Union Bankshares had its target price increased from $33.00 to $34.00 by Keefe, Bruyette & Woods, indicating a potential upside of 8.96% from the stock's previous close.
• The company reported $0.95 EPS for its last quarter, exceeding analysts' expectations of $0.80, with a significant revenue increase of 92.0% year-over-year.
• Institutional investors have shown increased interest, with significant stakes acquired by firms like North Reef Capital Management and Ameriprise Financial, indicating strong confidence in the company's growth potential.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) had its target price upped by research analysts at Keefe, Bruyette & Woods from $33.00 to $34.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 8.96% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Morgan Stanley initiated coverage on 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. Raymond James Financial reiterated a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday. Piper Sandler lowered their target price on 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, Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB traded up $0.24 during trading on Monday, hitting $31.20. 455,261 shares of the company's stock were exchanged, compared to its average volume of 1,457,095. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Atlantic Union Bankshares has a 52-week low of $22.85 and a 52-week high of $44.54. The business's 50-day simple moving average is $31.70 and its 200 day simple moving average is $31.84. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 13.63 and a beta of 0.86.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly 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 return on equity of 8.50% and a net margin of 15.53%. The company had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue was up 92.0% on a year-over-year basis. As a group, equities analysts predict that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Insider Activity

In related news, CEO John C. Asbury acquired 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. North Reef Capital Management LP purchased a new stake in Atlantic Union Bankshares during the 4th quarter worth $78,942,000. Ameriprise Financial Inc. boosted its position in Atlantic Union Bankshares by 62.0% during the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company's stock worth $98,029,000 after purchasing an additional 990,583 shares during the period. Vanguard Group Inc. boosted its position in Atlantic Union Bankshares by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock worth $371,578,000 after purchasing an additional 978,793 shares during the period. Millennium Management LLC boosted its position in Atlantic Union Bankshares by 152.3% during the 1st quarter. Millennium Management LLC now owns 1,136,526 shares of the company's stock worth $35,391,000 after purchasing an additional 686,137 shares during the period. Finally, Invesco Ltd. boosted its position in Atlantic Union Bankshares by 207.5% during the 1st quarter. Invesco Ltd. now owns 1,016,402 shares of the company's stock worth $31,651,000 after purchasing an additional 685,832 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

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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