Atlantic Union Bankshares (NASDAQ:AUB) PT Set at $42.00 by Raymond James Financial

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) received a $42.00 price objective from equities research analysts at Raymond James Financial in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a "strong-buy" rating on the stock. Raymond James Financial's price target indicates a potential upside of 34.16% from the stock's current price.

AUB has been the topic of a number of other research reports. Piper Sandler lowered their price objective 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. Keefe, Bruyette & Woods reduced their price target on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley initiated coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price for the company. Two equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.17.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB traded down $0.40 during trading on Wednesday, reaching $31.31. 1,514,404 shares of the company's stock traded hands, compared to its average volume of 1,464,234. The firm has a market cap of $4.46 billion, a PE ratio of 13.67 and a beta of 0.86. The company has a 50-day simple moving average of $31.65 and a 200-day simple moving average of $31.97. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $44.54.

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

Insiders Place Their Bets

In other Atlantic Union Bankshares news, CEO John C. Asbury acquired 7,500 shares of the company's stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $32.91 per share, for a total transaction of $246,825.00. Following the completion of the purchase, the chief executive officer owned 270,532 shares in the company, valued at $8,903,208.12. This trade represents a 2.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AUB. Vanguard Group Inc. increased its stake in Atlantic Union Bankshares by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 11,932,493 shares of the company's stock valued at $371,578,000 after buying an additional 978,793 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Atlantic Union Bankshares by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,681,103 shares of the company's stock worth $215,201,000 after acquiring an additional 31,082 shares during the period. Ameriprise Financial Inc. raised its holdings in Atlantic Union Bankshares by 6.3% during the first quarter. Ameriprise Financial Inc. now owns 2,751,341 shares of the company's stock worth $85,676,000 after purchasing an additional 163,451 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after purchasing an additional 565,564 shares during the period. Finally, North Reef Capital Management LP acquired a new position in Atlantic Union Bankshares during the 4th quarter worth approximately $78,942,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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.