Piper Sandler Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $41.50

Key Points

• Piper Sandler has lowered its price target for Atlantic Union Bankshares from $45.00 to $41.50, maintaining an "overweight" rating which suggests a potential upside of 22.38% from the stock's previous close.
• The company reported a quarterly earnings per share (EPS) of $0.84, missing analysts' estimates by $0.02, despite a revenue increase of 69.8% compared to the same quarter last year.
• Insider transactions have occurred, with both CEO John C. Asbury and Director Frank Russell Ellett increasing their holdings in the company, reflecting confidence in its long-term prospects.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) had its price objective cut by equities research analysts at Piper Sandler from $45.00 to $41.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 22.38% from the stock's previous close.

A number of other research firms also recently commented on AUB. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, October 8th. They set a "buy" rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. TD Cowen assumed coverage on shares of Atlantic Union Bankshares in a research report on Thursday, September 25th. They issued a "buy" rating and a $46.00 price target on the stock. 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. Finally, National Bankshares set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, September 24th. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.83.

Atlantic Union Bankshares Trading Up 3.0%

AUB stock traded up $0.98 on Friday, hitting $33.91. 97,341 shares of the company were exchanged, compared to its average volume of 1,342,616. Atlantic Union Bankshares has a twelve month low of $22.85 and a twelve month high of $44.54. The business's fifty day moving average is $35.10 and its two-hundred day moving average is $31.88. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 14.81 and a beta of 0.87. 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 posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The company had revenue of $319.21 million for the quarter, compared to the consensus estimate of $377.92 million. During the same quarter last year, the company earned $0.83 earnings per share. The company's revenue was up 69.8% compared to the same quarter last year. As a group, research analysts forecast that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett acquired 1,441 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $31.49 per share, with a total value of $45,377.09. Following the acquisition, the director directly owned 78,047 shares in the company, valued at approximately $2,457,700.03. The trade was a 1.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Asbury acquired 7,500 shares of the company'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 acquisition, the chief executive officer owned 270,532 shares in the company, valued at approximately $8,903,208.12. This trade represents a 2.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 18,941 shares of company stock worth $606,502. Corporate insiders own 0.87% of the company's stock.

Institutional Trading of Atlantic Union Bankshares

A number of large investors have recently modified their holdings of the company. Curio Wealth LLC acquired a new position in Atlantic Union Bankshares during the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC increased its stake in Atlantic Union Bankshares by 309.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company's stock valued at $30,000 after buying an additional 653 shares during the period. CWM LLC increased its stake in Atlantic Union Bankshares by 99.4% during the 1st quarter. CWM LLC now owns 1,049 shares of the company's stock valued at $33,000 after buying an additional 523 shares during the period. Huntington National Bank increased its stake in Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company's stock valued at $41,000 after buying an additional 542 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Atlantic Union Bankshares by 64.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,533 shares of the company's stock valued at $48,000 after buying an additional 603 shares during the period. 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.

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