Atlantic Union Bankshares (NYSE:AUB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

by · The Markets Daily

Atlantic Union Bankshares (NYSE:AUB – Get Free Report) had its target price upped by equities researchers at Morgan Stanley from $49.00 to $50.00 in a report released on Monday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 31.58% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on AUB. Weiss Ratings cut Atlantic Union Bankshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. Stephens restated an “overweight” rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Finally, TD Cowen increased their price objective on shares of Atlantic Union Bankshares from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.33.

Check Out Our Latest Research Report on AUB

Atlantic Union Bankshares Stock Down 1.4%

Shares of Atlantic Union Bankshares stock opened at $38.00 on Monday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.34 and a beta of 0.78. Atlantic Union Bankshares has a twelve month low of $30.87 and a twelve month high of $43.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $40.90 and its 200-day simple moving average is $39.20.

Atlantic Union Bankshares (NYSE:AUB – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The business had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities research analysts forecast that Atlantic Union Bankshares will post 3.76 earnings per share for the current year.

Institutional Trading of Atlantic Union Bankshares

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in shares of Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after purchasing an additional 580 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at about $39,000. Nykredit A S bought a new stake in shares of Atlantic Union Bankshares during the second quarter valued at about $51,000. EverSource Wealth Advisors LLC lifted its holdings in Atlantic Union Bankshares by 25.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock worth $55,000 after purchasing an additional 318 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Atlantic Union Bankshares in the first quarter worth about $104,000. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Company Profile

(Get Free Report)

Atlantic Union Bankshares Corporation is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, families, businesses, nonprofit organizations and public-sector clients.

The bank’s products and services include deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, mortgage banking, treasury management, cash management, wealth management and investment services.

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