Atlantic Union Bankshares (NASDAQ:AUB) Earns Overweight Rating from Analysts at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a note issued to investors on Monday. The brokerage set an “overweight” rating and a $51.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 45.80% from the company’s current price.

A number of other brokerages have also weighed in on AUB. Keefe, Bruyette & Woods increased their target price on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Raymond James lowered their target price on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.60.

Atlantic Union Bankshares Stock Performance

AUB opened at $34.98 on Monday. Atlantic Union Bankshares has a 52-week low of $30.43 and a 52-week high of $44.54. The firm has a market capitalization of $3.14 billion, a PE ratio of 14.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $40.25 and its 200 day simple moving average is $38.43.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Monday, October 21st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. The business had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. As a group, sell-side analysts expect that Atlantic Union Bankshares will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its position in Atlantic Union Bankshares by 78.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock worth $35,000 after purchasing an additional 410 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Atlantic Union Bankshares by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock worth $39,000 after acquiring an additional 489 shares in the last quarter. UMB Bank n.a. raised its position in shares of Atlantic Union Bankshares by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock worth $42,000 after acquiring an additional 483 shares in the last quarter. Quest Partners LLC bought a new position in shares of Atlantic Union Bankshares in the 3rd quarter worth about $56,000. Finally, Blue Trust Inc. raised its position in shares of Atlantic Union Bankshares by 110.2% in the 3rd quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after acquiring an additional 1,095 shares in the last quarter. 78.58% of the stock is owned by institutional investors.

Atlantic Union Bankshares Company Profile

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.