Piper Sandler Has Lowered Expectations for Atlantic Union Bankshares (NASDAQ:AUB) Stock Price

Key Points

• Piper Sandler has reduced its price target for Atlantic Union Bankshares (NASDAQ:AUB) from $46.00 to $45.00, but maintains an "overweight" rating, suggesting a potential upside of 36.90% from the current stock price.
• Several other analysts have provided varying ratings and price targets, with a consensus rating of "Moderate Buy" and an average price target of $38.00 for the stock.
• Atlantic Union Bankshares reported earnings of $0.95 per share for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 92.0%.
• As of recent trading, shares of Atlantic Union Bankshares were down 0.7% to $32.87, with a market cap of $4.68 billion.

Atlantic Union Bankshares (NASDAQ:AUB - Free Report) had its price objective cut by Piper Sandler from $46.00 to $45.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on AUB. Raymond James Financial raised Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $37.00 to $41.00 in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods lowered their price target 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 assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target on the stock. Finally, Jefferies Financial Group set a $37.00 price objective on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Atlantic Union Bankshares Stock Down 0.4%

Atlantic Union Bankshares stock traded down $0.13 during trading on Friday, reaching $32.73. The stock had a trading volume of 397,155 shares, compared to its average volume of 1,460,430. 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 52-week low of $22.85 and a 52-week high of $44.54. The stock has a market cap of $4.66 billion, a PE ratio of 14.28 and a beta of 0.86. The business has a 50 day moving average price of $31.49 and a 200 day moving average price of $31.99.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The business had revenue of $377.22 million for 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%. The company's revenue was up 92.0% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. On average, analysts predict that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, August 4th. Atlantic Union Bankshares's payout ratio is currently 66.02%.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $36,491,000 after purchasing an additional 94,883 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Atlantic Union Bankshares by 8.7% during the first quarter. OneDigital Investment Advisors LLC now owns 6,619 shares of the company's stock worth $206,000 after buying an additional 527 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Atlantic Union Bankshares by 30.7% in the 1st quarter. Amalgamated Bank now owns 34,400 shares of the company's stock worth $1,071,000 after acquiring an additional 8,073 shares during the period. DAVENPORT & Co LLC grew 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 valued at $17,390,000 after purchasing an additional 113,760 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Atlantic Union Bankshares during the 1st quarter valued at about $310,000. 78.58% of the stock is owned by institutional investors and hedge funds.

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.