Atlantic Union Bankshares (NASDAQ:AUB) Given New $47.00 Price Target at Morgan Stanley

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective hoisted by equities research analysts at Morgan Stanley from $44.00 to $47.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 25.40% from the company’s previous close.

AUB has been the topic of a number of other reports. Raymond James Financial set a $45.00 target price on Atlantic Union Bankshares in a research note on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Piper Sandler lifted their target price on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Zacks Research upgraded shares of Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Stephens raised their price target on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.85.

Atlantic Union Bankshares Stock Up 1.1%

Shares of NASDAQ AUB traded up $0.42 during mid-day trading on Monday, hitting $37.48. 366,785 shares of the stock traded hands, compared to its average volume of 1,085,889. The stock has a fifty day moving average price of $38.48 and a 200-day moving average price of $35.93. 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 company has a market cap of $5.34 billion, a price-to-earnings ratio of 16.38 and a beta of 0.83. Atlantic Union Bankshares has a 52 week low of $22.85 and a 52 week high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $391.33 million for the quarter, compared to analysts’ expectations of $378.95 million. During the same quarter in the prior year, the company earned $0.67 earnings per share. Research analysts anticipate that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Institutional Trading of Atlantic Union Bankshares

Several institutional investors have recently made changes to their positions in the business. Beacon Investment Advisors LLC grew its position in shares of Atlantic Union Bankshares by 0.7% during the fourth quarter. Beacon Investment Advisors LLC now owns 34,442 shares of the company’s stock valued at $1,216,000 after purchasing an additional 249 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Atlantic Union Bankshares by 1.8% during the 3rd quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company’s stock valued at $618,000 after buying an additional 317 shares in the last quarter. Walleye Capital LLC increased its stake in Atlantic Union Bankshares by 1.5% in the 2nd quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock worth $688,000 after acquiring an additional 322 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Atlantic Union Bankshares by 1.7% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,835 shares of the company’s stock worth $735,000 after acquiring an additional 347 shares during the last quarter. Finally, Benson Investment Management Company Inc. raised its holdings in shares of Atlantic Union Bankshares by 0.3% during the 3rd quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company’s stock worth $3,799,000 after acquiring an additional 355 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, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.