Stephens Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $40.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective decreased by Stephens from $43.00 to $40.00 in a research report report published on Wednesday, Benzinga reports. Stephens currently has an overweight rating on the stock.

Separately, Raymond James lifted their price objective on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Stock Performance

Shares of Atlantic Union Bankshares stock opened at $32.28 on Wednesday. The stock has a market cap of $2.43 billion, a PE ratio of 11.87 and a beta of 0.94. The business has a fifty day simple moving average of $33.55 and a 200-day simple moving average of $33.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The business had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same period last year, the business earned $0.63 EPS. On average, sell-side analysts anticipate that Atlantic Union Bankshares will post 3.17 EPS for the current fiscal year.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Donald R. Kimble bought 7,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the acquisition, the director now directly owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Atlantic Union Bankshares by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock worth $339,487,000 after purchasing an additional 111,580 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Atlantic Union Bankshares by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock worth $179,687,000 after purchasing an additional 28,655 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Atlantic Union Bankshares by 0.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock worth $62,958,000 after purchasing an additional 10,969 shares during the period. Victory Capital Management Inc. grew its position in Atlantic Union Bankshares by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock worth $52,975,000 after buying an additional 40,659 shares in the last quarter. Finally, Northern Trust Corp grew its position in Atlantic Union Bankshares by 0.3% during the third quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock worth $28,140,000 after buying an additional 3,364 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

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.