Atlantic Union Bankshares (NASDAQ:AUB) Price Target Cut to $45.00 by Analysts at Piper Sandler

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 target price trimmed by Piper Sandler from $46.00 to $45.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also issued reports on AUB. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods reduced their target price on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. 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 note on Wednesday, May 21st. Finally, 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 target price on the stock. Two equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Atlantic Union Bankshares Price Performance

Shares of AUB stock traded down $0.01 during mid-day trading on Friday, reaching $33.08. The company's stock had a trading volume of 1,127,331 shares, compared to its average volume of 1,471,518. Atlantic Union Bankshares has a 1-year low of $22.85 and a 1-year high of $44.54. The company has a market cap of $4.71 billion, a P/E ratio of 14.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm's 50-day moving average is $31.45 and its two-hundred day moving average is $32.03.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced 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 business 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%. The firm's revenue for the quarter was up 92.0% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. On average, research analysts predict that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 4.11%. Atlantic Union Bankshares's dividend payout ratio (DPR) is 66.02%.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently modified their holdings of the business. HighTower Advisors LLC lifted its position in Atlantic Union Bankshares by 15.8% during the fourth quarter. HighTower Advisors LLC now owns 18,784 shares of the company's stock worth $712,000 after purchasing an additional 2,561 shares during the period. Xponance Inc. raised its stake in Atlantic Union Bankshares by 9.5% during the fourth quarter. Xponance Inc. now owns 6,424 shares of the company's stock worth $243,000 after acquiring an additional 556 shares in the last quarter. American Century Companies Inc. raised its stake in Atlantic Union Bankshares by 3,195.3% during the fourth quarter. American Century Companies Inc. now owns 1,056,073 shares of the company's stock worth $40,004,000 after acquiring an additional 1,024,025 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Atlantic Union Bankshares during the fourth quarter worth about $680,000. Finally, LPL Financial LLC increased its stake in shares of Atlantic Union Bankshares by 12.2% in the fourth quarter. LPL Financial LLC now owns 86,859 shares of the company's stock valued at $3,290,000 after buying an additional 9,454 shares during the period. Institutional investors own 78.58% of the company's stock.

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.