Atlantic Union Bankshares (NASDAQ:AUB) PT Lowered to $38.00 at Piper Sandler

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective lowered by Piper Sandler from $40.00 to $38.00 in a report released on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on AUB. Stephens lowered their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Raymond James lifted their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an outperform rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a market perform rating for the company in a research note on Wednesday, April 24th.

Atlantic Union Bankshares Stock Performance

AUB opened at $32.64 on Monday. The business has a 50 day moving average price of $33.53 and a two-hundred day moving average price of $33.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 10.87 and a beta of 0.94. Atlantic Union Bankshares has a 1-year low of $23.32 and a 1-year high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.04). The firm had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same quarter last year, the company earned $0.63 EPS. Research analysts predict that Atlantic Union Bankshares will post 3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Donald R. Kimble purchased 7,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price 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 of the company’s stock, valued at $266,355.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AUB. Norges Bank acquired a new stake in Atlantic Union Bankshares during the 4th quarter worth about $18,902,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Atlantic Union Bankshares during the third quarter valued at approximately $14,416,000. Ceredex Value Advisors LLC acquired a new position in Atlantic Union Bankshares in the 3rd quarter valued at approximately $10,995,000. Franklin Resources Inc. lifted its position in Atlantic Union Bankshares by 41.5% in the 4th quarter. Franklin Resources Inc. now owns 892,883 shares of the company’s stock worth $32,626,000 after buying an additional 261,825 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Atlantic Union Bankshares by 112.0% during the 4th quarter. Hsbc Holdings PLC now owns 464,349 shares of the company’s stock valued at $17,068,000 after buying an additional 245,357 shares during the period. 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.