Atlantic Union Bankshares (NASDAQ:AUB) Price Target Cut to $35.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $36.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 6.97% from the company’s previous close.

Several other equities research analysts have also weighed in on AUB. Stephens reduced their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James raised their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Price Performance

Shares of AUB traded down $0.16 during trading hours on Wednesday, hitting $32.72. 159,273 shares of the company were exchanged, compared to its average volume of 411,902. The company has a market capitalization of $2.47 billion, a PE ratio of 12.80 and a beta of 0.94. 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 firm has a fifty day simple moving average of $33.63 and a 200-day simple moving average of $33.14. Atlantic Union Bankshares has a one year low of $23.32 and a one year high of $37.86.

Atlantic Union Bankshares (NASDAQ:AUB) last released 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 company had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.51% and a net margin of 19.31%. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, sell-side analysts predict that Atlantic Union Bankshares will post 3.24 earnings per share for the current year.

Insider Activity at Atlantic Union Bankshares

In other news, Director Donald R. Kimble acquired 7,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the transaction, the director now owns 7,582 shares in the company, valued at $266,355.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new position in Atlantic Union Bankshares during the fourth quarter valued at about $1,370,000. Charles Schwab Investment Management Inc. raised its holdings in Atlantic Union Bankshares by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock valued at $17,154,000 after buying an additional 26,362 shares in the last quarter. London Co. of Virginia raised its holdings in Atlantic Union Bankshares by 8.7% during the third quarter. London Co. of Virginia now owns 677,922 shares of the company’s stock valued at $19,511,000 after buying an additional 54,498 shares in the last quarter. Northern Trust Corp raised its holdings in Atlantic Union Bankshares by 0.3% during the third quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock valued at $28,140,000 after buying an additional 3,364 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Atlantic Union Bankshares by 62.0% during the third quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock valued at $9,162,000 after buying an additional 121,806 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

About Atlantic Union Bankshares

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.