Piper Sandler Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $38.00

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

Several other equities research analysts have also recently weighed in on AUB. 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 report on Wednesday, April 24th. 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 report on Wednesday, April 24th. Finally, Raymond James increased their price objective on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a research report on Friday, January 5th.

Atlantic Union Bankshares Trading Up 2.7 %

Shares of AUB stock opened at $32.62 on Monday. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $33.49 and its two-hundred day moving average is $33.25. The company has a market cap of $2.46 billion, a PE ratio of 11.99 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last posted 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). Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The business had revenue of $288.47 million during the quarter, compared to the consensus estimate of $178.82 million. During the same period in the prior year, the company posted $0.63 earnings per share. Equities analysts predict that Atlantic Union Bankshares will post 3.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Donald R. Kimble bought 7,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the transaction, the director now directly owns 7,582 shares in the company, valued at $266,355.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AUB. Pinnacle Associates Ltd. lifted its holdings in shares of Atlantic Union Bankshares by 0.5% during the third quarter. Pinnacle Associates Ltd. now owns 292,038 shares of the company’s stock valued at $8,405,000 after acquiring an additional 1,566 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Atlantic Union Bankshares by 5.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 32,273 shares of the company’s stock valued at $929,000 after buying an additional 1,773 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Atlantic Union Bankshares in the third quarter valued at $10,995,000. Redmond Asset Management LLC increased its stake in shares of Atlantic Union Bankshares by 6.1% in the third quarter. Redmond Asset Management LLC now owns 57,653 shares of the company’s stock valued at $1,659,000 after buying an additional 3,300 shares in the last quarter. Finally, Canal Capital Management LLC increased its stake in shares of Atlantic Union Bankshares by 4.2% in the third quarter. Canal Capital Management LLC now owns 65,912 shares of the company’s stock valued at $1,897,000 after buying an additional 2,664 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

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.