Atlantic Union Bankshares (NYSE:AUB) Stock Price Breaks Below 50-Day Moving Average - Should You Sell?

Key Points

• Atlantic Union Bankshares fell below its 50-day moving average, trading as low as $38.86 versus the $39.24 average, while its two-hundred-day average stood at $39.03.
• Analysts maintain a generally positive outlook, with four Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $45.80.
• The company met quarterly EPS expectations at $0.96, while revenue rose 3.3% year over year to $387.9 million; however, an executive recently sold 7,746 shares at an average price of $40.

Atlantic Union Bankshares Co. (NYSE:AUB - Get Free Report) passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $39.24 and traded as low as $38.86. Atlantic Union Bankshares shares last traded at $39.2220, with a volume of 1,026,975 shares traded.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, September 28th. Weiss Ratings raised Atlantic Union Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. TD Cowen decreased their price objective on Atlantic Union Bankshares from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Finally, Piper Sandler lowered their price objective on Atlantic Union Bankshares from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.80.

Atlantic Union Bankshares Stock Down 0.5%

The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.72 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $39.24 and a two-hundred day moving average price of $39.03.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.96. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The firm had revenue of $387.90 million during the quarter, compared to the consensus estimate of $392.72 million. During the same quarter in the prior year, the company earned $0.84 EPS. The company's revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that Atlantic Union Bankshares Co. will post 3.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, EVP Matthew L. Linderman sold 7,746 shares of the business's stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $40.00, for a total transaction of $309,840.00. Following the completion of the sale, the executive vice president directly owned 10,455 shares in the company, valued at $418,200. The trade was a 42.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several large investors have recently made changes to their positions in AUB. Dimensional Fund Advisors LP boosted its position in Atlantic Union Bankshares by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company's stock worth $272,883,000 after purchasing an additional 102,821 shares during the period. Congress Asset Management Co. lifted its stake in shares of Atlantic Union Bankshares by 1.2% during the third quarter. Congress Asset Management Co. now owns 2,531,692 shares of the company's stock worth $96,078,000 after purchasing an additional 30,528 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Atlantic Union Bankshares by 40.1% during the first quarter. Principal Financial Group Inc. now owns 951,373 shares of the company's stock worth $34,002,000 after purchasing an additional 272,119 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Atlantic Union Bankshares by 53.4% in the first quarter. Bank of America Corp DE now owns 886,978 shares of the company's stock worth $31,701,000 after buying an additional 308,934 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Atlantic Union Bankshares by 20.8% in the second quarter. Wellington Management Group LLP now owns 721,211 shares of the company's stock worth $30,514,000 after buying an additional 124,135 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 NYSE: AUB is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.

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