Atlantic Union Bankshares (NASDAQ:AUB) Stock Rating Upgraded by Zacks Investment Research

Posted by on Jun 7th, 2022

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $39.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.72% from the stock’s previous close.

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. “

A number of other brokerages also recently weighed in on AUB. Piper Sandler dropped their price objective on Atlantic Union Bankshares from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Keefe, Bruyette & Woods raised Atlantic Union Bankshares from a “market perform” rating to an “outperform” rating in a research report on Friday, April 22nd.

AUB stock traded up $0.53 during midday trading on Tuesday, reaching $34.91. The company’s stock had a trading volume of 247,565 shares, compared to its average volume of 284,255. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day simple moving average of $35.31 and a two-hundred day simple moving average of $37.48. Atlantic Union Bankshares has a 1 year low of $32.31 and a 1 year high of $42.67. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.19 and a beta of 1.14.

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

Large investors have recently made changes to their positions in the company. Wealthspire Advisors LLC raised its position in Atlantic Union Bankshares by 0.4% during the third quarter. Wealthspire Advisors LLC now owns 77,691 shares of the company’s stock valued at $2,863,000 after acquiring an additional 333 shares in the last quarter. Natixis Advisors L.P. raised its position in Atlantic Union Bankshares by 1.3% during the fourth quarter. Natixis Advisors L.P. now owns 28,164 shares of the company’s stock valued at $1,050,000 after acquiring an additional 352 shares in the last quarter. People s United Financial Inc. increased its position in shares of Atlantic Union Bankshares by 2.0% in the fourth quarter. People s United Financial Inc. now owns 17,890 shares of the company’s stock valued at $667,000 after buying an additional 357 shares in the last quarter. Covestor Ltd increased its position in shares of Atlantic Union Bankshares by 78.0% in the first quarter. Covestor Ltd now owns 826 shares of the company’s stock valued at $30,000 after buying an additional 362 shares in the last quarter. Finally, Liberty Wealth Management LLC increased its position in shares of Atlantic Union Bankshares by 100.3% in the third quarter. Liberty Wealth Management LLC now owns 759 shares of the company’s stock valued at $28,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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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