Raymond James Upgrades Atlantic Union Bankshares (NASDAQ:AUB) to "Strong-Buy"

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) was upgraded by equities research analysts at Raymond James from an "outperform" rating to a "strong-buy" rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $41.00 price objective on the stock, up from their prior price objective of $37.00. Raymond James' target price would indicate a potential upside of 27.08% from the company's previous close.

AUB has been the subject of a number of other research reports. 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. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a research report on Wednesday, May 21st. Hovde Group dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Finally, 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 for the company in a research note on Monday, April 28th. Two equities 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Atlantic Union Bankshares Stock Up 3.1%

NASDAQ AUB traded up $0.96 on Tuesday, hitting $32.26. 2,356,693 shares of the stock traded hands, compared to its average volume of 1,029,125. Atlantic Union Bankshares has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a market capitalization of $4.60 billion, a P/E ratio of 14.09 and a beta of 0.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $27.98 and a 200 day moving average of $33.81.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new position in shares of Atlantic Union Bankshares in the 1st quarter valued at about $25,000. CWM LLC lifted its position in Atlantic Union Bankshares by 99.4% in the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock worth $33,000 after buying an additional 523 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Atlantic Union Bankshares by 186.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,074 shares of the company's stock valued at $41,000 after buying an additional 699 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Atlantic Union Bankshares during the 4th quarter valued at $72,000. Finally, Concord Wealth Partners increased its stake in shares of Atlantic Union Bankshares by 304.1% in the first quarter. Concord Wealth Partners now owns 2,728 shares of the company's stock worth $85,000 after acquiring an additional 2,053 shares during 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.