Morgan Stanley Boosts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $45.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target boosted by investment analysts at Morgan Stanley from $42.00 to $45.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 7.27% from the company’s previous close.

Several other research analysts also recently commented on the stock. Zacks Research downgraded shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Stephens restated an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Piper Sandler lifted their price objective on Atlantic Union Bankshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, TD Cowen raised their price target on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.62.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB traded up $0.09 during midday trading on Monday, hitting $41.95. 754,958 shares of the company’s stock were exchanged, compared to its average volume of 1,096,540. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $38.18 and its two-hundred day moving average price is $37.65. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 18.33 and a beta of 0.80. Atlantic Union Bankshares has a 12-month low of $30.39 and a 12-month high of $42.22.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Tuesday, April 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The business had revenue of $371.71 million during the quarter, compared to analysts’ expectations of $391.24 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.During the same quarter in the previous year, the business earned $0.90 EPS. As a group, research analysts forecast that Atlantic Union Bankshares will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Nancy H. Agee purchased 650 shares of the stock in a transaction dated Monday, April 20th. The stock was purchased at an average price of $39.05 per share, with a total value of $25,382.50. Following the transaction, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Atlantic Union Bankshares by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,635,464 shares of the company’s stock worth $272,883,000 after acquiring an additional 102,821 shares during the last quarter. State Street Corp increased its holdings in shares of Atlantic Union Bankshares by 24.5% in the 2nd quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after purchasing an additional 1,457,647 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of Atlantic Union Bankshares by 23.1% in the 4th quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company’s stock worth $161,395,000 after purchasing an additional 858,486 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter worth $87,022,000. Finally, American Century Companies Inc. raised its stake in shares of Atlantic Union Bankshares by 7.8% in the third quarter. American Century Companies Inc. now owns 2,393,318 shares of the company’s stock worth $84,460,000 after purchasing an additional 174,122 shares during the last quarter. 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.