Atlantic Union Bankshares (NASDAQ:AUB) Given a $42.00 Price Target by Raymond James Financial Analysts

Key Points

• Atlantic Union Bankshares had its price target raised from $41.00 to $42.00 by Raymond James Financial, indicating a potential upside of 28.24% from the current price.
• Several analysts have differing views, with Keefe, Bruyette & Woods lowering their target to $33.00, while Piper Sandler reduced theirs to $45.00, reflecting a range of opinions about the stock's performance.
• CEO John C. Asbury recently purchased 7,500 shares at an average price of $32.91, indicating confidence in the company's future prospects.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) has been assigned a $42.00 price target by investment analysts at Raymond James Financial in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's price objective points to a potential upside of 34.16% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Morgan Stanley began coverage on Atlantic Union Bankshares in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target for the company. Finally, Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $38.17.

Atlantic Union Bankshares Stock Down 1.2%

Shares of AUB traded down $0.40 during trading hours on Wednesday, hitting $31.31. The stock had a trading volume of 1,514,404 shares, compared to its average volume of 1,464,234. Atlantic Union Bankshares has a 1-year low of $22.85 and a 1-year high of $44.54. The firm has a market capitalization of $4.46 billion, a P/E ratio of 13.67 and a beta of 0.86. The firm has a 50 day simple moving average of $31.70 and a 200-day simple moving average of $31.88. 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 (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. The business had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares's quarterly revenue was up 92.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side analysts predict that Atlantic Union Bankshares will post 3.26 EPS 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 on Monday, July 28th. The stock was acquired at an average price of $32.91 per share, with a total value 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 represents a 2.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company's stock.

Institutional Trading of Atlantic Union Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AUB. Bank of New York Mellon Corp raised its holdings in Atlantic Union Bankshares by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 1,171,836 shares of the company's stock worth $36,491,000 after purchasing an additional 94,883 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Atlantic Union Bankshares by 8.7% in the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after purchasing an additional 527 shares in the last quarter. Amalgamated Bank raised its holdings in Atlantic Union Bankshares by 30.7% in the first quarter. Amalgamated Bank now owns 34,400 shares of the company's stock worth $1,071,000 after purchasing an additional 8,073 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Atlantic Union Bankshares by 25.6% in the first quarter. DAVENPORT & Co LLC now owns 558,451 shares of the company's stock worth $17,390,000 after purchasing an additional 113,760 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Atlantic Union Bankshares in the first quarter worth $310,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

About Atlantic Union Bankshares

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.