TD Cowen Forecasts Strong Price Appreciation for Atlantic Union Bankshares (NASDAQ:AUB) Stock

Atlantic Union Bankshares (NASDAQ:AUB) had its target price lifted by analysts at TD Cowen from $44.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 22.68% from the stock’s current price.

Several other equities analysts also recently commented on AUB. National Bankshares set a $46.00 price objective on Atlantic Union Bankshares in a research report on Wednesday, September 24th. Morgan Stanley upped their target price on shares of Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday. Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research note on Thursday. Piper Sandler reduced their price objective on Atlantic Union Bankshares from $45.00 to $41.50 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Raymond James Financial cut Atlantic Union Bankshares from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.06.

Atlantic Union Bankshares Price Performance

Atlantic Union Bankshares stock traded up $0.68 during mid-day trading on Thursday, reaching $36.68. 531,529 shares of the company’s stock traded hands, compared to its average volume of 1,315,488. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 16.04 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $33.76 and a two-hundred day moving average of $33.31. Atlantic Union Bankshares has a 12-month low of $22.85 and a 12-month high of $41.87.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The company had revenue of $319.21 million during the quarter, compared to the consensus estimate of $377.92 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up 69.8% compared to the same quarter last year. Equities analysts forecast that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. increased its holdings in shares of Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after purchasing an additional 390 shares during the period. Curio Wealth LLC purchased a new position in Atlantic Union Bankshares during the second quarter valued at $28,000. Farther Finance Advisors LLC grew its position in shares of Atlantic Union Bankshares by 309.5% in the third quarter. Farther Finance Advisors LLC now owns 864 shares of the company’s stock valued at $30,000 after purchasing an additional 653 shares during the period. Huntington National Bank lifted its stake in Atlantic Union Bankshares by 71.7% in 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 in the last quarter. 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 worth $48,000 after buying an additional 603 shares in the last quarter. Hedge funds and other institutional investors 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.