Atlantic Union Bankshares (NASDAQ:AUB) Rating Increased to Strong-Buy at Zacks Research

Atlantic Union Bankshares (NASDAQ:AUB) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

AUB has been the subject of a number of other reports. Raymond James Financial set a $45.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Piper Sandler lifted their target price on Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research report on Thursday. Janney Montgomery Scott began coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 target price for the company. TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a research report on Thursday, December 11th. Finally, Stephens boosted their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and an average price target of $42.55.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $41.77 on Thursday. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.24 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. 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 price of $37.21 and a 200 day moving average price of $35.11.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $378.95 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Research analysts predict that Atlantic Union Bankshares will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after acquiring an additional 1,457,647 shares during the period. North Reef Capital Management LP boosted its holdings in Atlantic Union Bankshares by 35.0% in the 3rd quarter. North Reef Capital Management LP now owns 3,713,604 shares of the company’s stock valued at $131,053,000 after purchasing an additional 963,604 shares in the last quarter. Geode Capital Management LLC increased its position in Atlantic Union Bankshares by 59.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,225 shares of the company’s stock worth $105,589,000 after purchasing an additional 1,255,064 shares during the period. Franklin Resources Inc. raised its stake in shares of Atlantic Union Bankshares by 96.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,313,002 shares of the company’s stock worth $103,631,000 after buying an additional 1,629,591 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Atlantic Union Bankshares by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 2,393,318 shares of the company’s stock valued at $84,460,000 after buying an additional 174,122 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

About Atlantic Union Bankshares

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.