Atlantic Union Bankshares (NASDAQ:AUB) Upgraded to Outperform by Keefe, Bruyette & Woods

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Briefing.com reports.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Atlantic Union Bankshares from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, January 19th. Stephens upped their price objective on Atlantic Union Bankshares from $44.00 to $45.50 and gave the company an “overweight” rating in a research note on Wednesday, January 26th. Finally, Piper Sandler dropped their price objective on Atlantic Union Bankshares from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday.

AUB traded down $0.61 on Friday, hitting $36.55. 9,978 shares of the company were exchanged, compared to its average volume of 294,388. Atlantic Union Bankshares has a 12 month low of $32.31 and a 12 month high of $42.67. The company has a market cap of $2.76 billion, a PE ratio of 11.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s fifty day moving average is $38.49 and its 200-day moving average is $37.96.

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) last released its earnings results on Thursday, April 21st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.07). Atlantic Union Bankshares had a return on equity of 10.49% and a net margin of 36.75%. The company had revenue of $164.50 million for the quarter, compared to the consensus estimate of $165.66 million. During the same quarter in the previous year, the company posted $0.82 EPS. The business’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that Atlantic Union Bankshares will post 2.81 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in AUB. William Blair Investment Management LLC increased its stake in shares of Atlantic Union Bankshares by 48,603.4% during the third quarter. William Blair Investment Management LLC now owns 874,226 shares of the company’s stock worth $32,215,000 after purchasing an additional 872,431 shares during the period. Norges Bank bought a new position in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $26,097,000. Victory Capital Management Inc. increased its stake in shares of Atlantic Union Bankshares by 1,706.0% during the fourth quarter. Victory Capital Management Inc. now owns 344,168 shares of the company’s stock worth $12,834,000 after purchasing an additional 325,111 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Atlantic Union Bankshares during the fourth quarter worth approximately $10,958,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new position in shares of Atlantic Union Bankshares during the third quarter worth approximately $8,048,000. Institutional investors own 69.10% of the company’s stock.

Atlantic Union Bankshares Company Profile (Get Rating)

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.

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