Janney Montgomery Scott Begins Coverage on Atlantic Union Bankshares (NASDAQ:AUB)

Key Points

• Janney Montgomery Scott has initiated coverage on Atlantic Union Bankshares (NASDAQ:AUB) with a buy rating and a price target of $42.00, indicating a potential upside of 17.75% from the current price.
• The stock has received various ratings from other analysts, with an average target of $41.56 and a consensus rating of "Moderate Buy".
• In recent insider activity, CEO John C. Asbury purchased 7,500 shares at an average price of $32.91, which reflects growing confidence in the company's prospects.

Analysts at Janney Montgomery Scott started coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $42.00 price target on the stock. Janney Montgomery Scott's price objective suggests a potential upside of 17.75% from the stock's current price.

AUB has been the topic of a number of other reports. TD Cowen started coverage on shares of Atlantic Union Bankshares in a research report on Thursday, September 25th. They set a "buy" rating and a $46.00 price target on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $43.00 price target (up from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. Cowen started coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. They set a "buy" rating on the stock. Finally, Morgan Stanley raised their price target on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an "underperform" rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $41.56.

Atlantic Union Bankshares Stock Performance

Shares of NASDAQ AUB traded down $0.43 during mid-day trading on Wednesday, reaching $35.67. 63,273 shares of the company were exchanged, compared to its average volume of 1,352,588. The company's 50-day simple moving average is $34.64 and its 200-day simple moving average is $31.55. 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 $5.08 billion, a P/E ratio of 15.56 and a beta of 0.87. Atlantic Union Bankshares has a twelve month low of $22.85 and a twelve month high of $44.54.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The company had revenue of $377.22 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. As a group, research analysts predict that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Insider Activity at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, CEO John C. Asbury bought 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were acquired 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 in the company, valued at approximately $8,903,208.12. This represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Russell Ellett bought 1,441 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $31.49 per share, for a total transaction of $45,377.09. Following the completion of the transaction, the director owned 78,047 shares in the company, valued at $2,457,700.03. This trade represents a 1.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,941 shares of company stock worth $606,502 over the last ninety days. 1.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several hedge funds have recently added to or reduced their stakes in AUB. NBC Securities Inc. acquired a new stake in Atlantic Union Bankshares during the 1st quarter worth approximately $25,000. Curio Wealth LLC acquired a new position in shares of Atlantic Union Bankshares in the 2nd quarter worth approximately $28,000. CWM LLC lifted its position in shares of 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 purchasing an additional 523 shares during the period. Huntington National Bank lifted its position in shares of Atlantic Union Bankshares by 71.7% in the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company's stock worth $41,000 after purchasing an additional 542 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Atlantic Union Bankshares by 64.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company's stock worth $48,000 after purchasing an additional 603 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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