Raymond James Lowers Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $41.00

by · The Markets Daily

Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) had its price objective reduced by research analysts at Raymond James from $45.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 13.10% from the stock’s previous close.

Several other research firms also recently issued reports on AUB. Hovde Group reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Keefe, Bruyette & Woods lifted their price target on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Check Out Our Latest Research Report on AUB

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $36.25 on Wednesday. The company has a fifty day moving average of $38.08 and a 200-day moving average of $35.08. The firm has a market capitalization of $3.25 billion, a P/E ratio of 13.33 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Atlantic Union Bankshares has a twelve month low of $26.91 and a twelve month high of $42.50.

Atlantic Union Bankshares (NASDAQ:AUB – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). The company had revenue of $212.20 million during the quarter, compared to the consensus estimate of $216.03 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.95%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, sell-side analysts anticipate that Atlantic Union Bankshares will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vista Investment Management raised its stake in Atlantic Union Bankshares by 4.6% in the 4th quarter. Vista Investment Management now owns 9,030 shares of the company’s stock valued at $330,000 after acquiring an additional 395 shares during the period. Park Avenue Securities LLC raised its stake in Atlantic Union Bankshares by 4.6% in the 1st quarter. Park Avenue Securities LLC now owns 10,178 shares of the company’s stock valued at $359,000 after acquiring an additional 444 shares during the period. Moors & Cabot Inc. raised its stake in Atlantic Union Bankshares by 5.5% in the 2nd quarter. Moors & Cabot Inc. now owns 9,532 shares of the company’s stock valued at $313,000 after acquiring an additional 500 shares during the period. Mather Group LLC. bought a new stake in Atlantic Union Bankshares in the 1st quarter valued at about $27,000. Finally, US Bancorp DE raised its stake in Atlantic Union Bankshares by 6.8% in the 1st quarter. US Bancorp DE now owns 12,098 shares of the company’s stock valued at $427,000 after acquiring an additional 769 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.

About Atlantic Union Bankshares

(Get Free Report)

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.

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