Atlantic Union Bankshares (NASDAQ:AUB) Lowered to Hold at Zacks Investment Research

Atlantic Union Bankshares (NASDAQ:AUBGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Atlantic Union Bankshares Corporation provides banking services to consumers and businesses. It offers checking accounts, lending, credit cards, online and mobile banking, and wealth and treasury management services. Atlantic Union Bankshares Corporation, formerly known as Union Bankshares Corporation, is based in Richmond, United States. “

AUB has been the topic of a number of other research reports. Piper Sandler cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, April 22nd. Keefe, Bruyette & Woods raised shares of Atlantic Union Bankshares from a “market perform” rating to an “outperform” rating in a research note on Friday, April 22nd.

NASDAQ:AUB traded up $0.14 during mid-day trading on Monday, hitting $34.38. 188,384 shares of the stock traded hands, compared to its average volume of 284,546. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.02 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. Atlantic Union Bankshares has a 52 week low of $32.31 and a 52 week high of $42.67. The firm’s 50 day moving average is $35.38 and its two-hundred day moving average is $37.48.

Atlantic Union Bankshares (NASDAQ:AUBGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.07). The business had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $165.66 million. Atlantic Union Bankshares had a return on equity of 9.94% and a net margin of 35.51%. Atlantic Union Bankshares’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. As a group, research analysts predict that Atlantic Union Bankshares will post 2.93 EPS for the current year.

Large investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its stake in shares of Atlantic Union Bankshares by 6.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 32,687 shares of the company’s stock worth $1,220,000 after purchasing an additional 2,114 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Atlantic Union Bankshares during the 4th quarter worth $131,000. Lazard Asset Management LLC boosted its position in shares of Atlantic Union Bankshares by 24.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,398 shares of the company’s stock worth $89,000 after buying an additional 471 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 0.4% in the 3rd quarter. Wealthspire Advisors LLC now owns 77,691 shares of the company’s stock worth $2,863,000 after buying an additional 333 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Atlantic Union Bankshares in the 4th quarter worth about $304,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Atlantic Union Bankshares Company Profile (Get Rating)

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.

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