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

Atlantic Union Bankshares (NASDAQ:AUB) had its target price reduced by equities researchers at Piper Sandler from $40.00 to $38.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 19.72% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods decreased their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Raymond James upped their target price 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. Finally, Stephens dropped their price target on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $31.74 on Monday. The business’s 50-day simple moving average is $33.53 and its 200-day simple moving average is $33.23. The firm has a market capitalization of $2.39 billion, a P/E ratio of 11.67 and a beta of 0.94. Atlantic Union Bankshares has a 1-year low of $23.32 and a 1-year high of $37.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $178.82 million. During the same period in the prior year, the business posted $0.63 EPS. Equities analysts predict that Atlantic Union Bankshares will post 3.17 EPS for the current year.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the acquisition, the director now directly owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.28% of the company’s stock.

Institutional Trading of Atlantic Union Bankshares

Several large investors have recently added to or reduced their stakes in AUB. Mather Group LLC. purchased a new stake in Atlantic Union Bankshares in the 1st quarter worth approximately $27,000. Strs Ohio bought a new stake in Atlantic Union Bankshares in the fourth quarter worth approximately $29,000. Covestor Ltd raised its holdings in shares of Atlantic Union Bankshares by 95.0% during the 3rd quarter. Covestor Ltd now owns 1,053 shares of the company’s stock valued at $30,000 after purchasing an additional 513 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in shares of Atlantic Union Bankshares by 386,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,862 shares of the company’s stock valued at $141,000 after purchasing an additional 3,861 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Atlantic Union Bankshares by 194.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,120 shares of the company’s stock worth $151,000 after buying an additional 2,720 shares during the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

About Atlantic Union Bankshares

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.