Hovde Group Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $40.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price target lowered by equities researchers at Hovde Group from $46.00 to $40.00 in a report issued on Monday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s target price would indicate a potential upside of 23.49% from the stock’s current price.

AUB has been the topic of several other reports. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a research report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Atlantic Union Bankshares Price Performance

AUB stock opened at $32.39 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.91 billion, a P/E ratio of 14.14 and a beta of 0.91. The business has a 50 day simple moving average of $36.34 and a 200-day simple moving average of $38.18. Atlantic Union Bankshares has a twelve month low of $30.43 and a twelve month high of $44.54.

Institutional Investors Weigh In On Atlantic Union Bankshares

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Atlantic Union Bankshares by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,953,700 shares of the company’s stock worth $414,926,000 after buying an additional 27,604 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Atlantic Union Bankshares by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,681,103 shares of the company’s stock worth $215,201,000 after acquiring an additional 31,082 shares in the last quarter. State Street Corp lifted its holdings in Atlantic Union Bankshares by 3.0% in the third quarter. State Street Corp now owns 4,492,014 shares of the company’s stock valued at $169,214,000 after acquiring an additional 130,104 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Atlantic Union Bankshares by 62.0% during the 4th quarter. Ameriprise Financial Inc. now owns 2,587,890 shares of the company’s stock worth $98,029,000 after purchasing an additional 990,583 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new position in shares of Atlantic Union Bankshares during the 4th quarter worth $78,942,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

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.