Atlantic Union Bankshares (NASDAQ:AUB) Given New $46.00 Price Target at Hovde Group

Atlantic Union Bankshares (NASDAQ:AUB) had its price target hoisted by analysts at Hovde Group from $40.00 to $46.00 in a report issued on Friday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s price target points to a potential upside of 11.73% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their target price on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Stephens dropped their target price on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ AUB opened at $41.17 on Friday. The firm has a market cap of $3.70 billion, a PE ratio of 15.14 and a beta of 0.90. The firm has a fifty day moving average of $33.63 and a 200 day moving average of $33.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a one year low of $26.91 and a one year high of $41.87.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The business had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. During the same period in the previous year, the company earned $0.74 EPS. Atlantic Union Bankshares’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, research analysts predict that Atlantic Union Bankshares will post 2.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Frank Russell Ellett purchased 5,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $31.71 per share, with a total value of $158,550.00. Following the transaction, the director now owns 47,334 shares in the company, valued at approximately $1,500,961.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Atlantic Union Bankshares by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 9,290,826 shares of the company’s stock valued at $339,487,000 after buying an additional 111,580 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Atlantic Union Bankshares by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,917,470 shares of the company’s stock valued at $179,687,000 after buying an additional 28,655 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Atlantic Union Bankshares by 19.0% in the first quarter. Westwood Holdings Group Inc. now owns 2,627,756 shares of the company’s stock valued at $92,786,000 after buying an additional 419,793 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Atlantic Union Bankshares by 0.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,723,002 shares of the company’s stock valued at $62,958,000 after buying an additional 10,969 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Atlantic Union Bankshares by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,449,785 shares of the company’s stock valued at $52,975,000 after buying an additional 40,659 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

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.