Piper Sandler Cuts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $38.00

Atlantic Union Bankshares (NASDAQ:AUB) had its price objective trimmed by Piper Sandler from $40.00 to $38.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

AUB has been the subject of several other reports. Keefe, Bruyette & Woods dropped their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a market perform rating for the company in a research report on Wednesday, April 24th. Raymond James increased their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an outperform rating in a research report on Friday, January 5th. Finally, Stephens dropped their target price on Atlantic Union Bankshares from $43.00 to $40.00 and set an overweight rating for the company in a research report on Wednesday, April 24th.

Atlantic Union Bankshares Price Performance

Shares of AUB stock opened at $32.62 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a twelve month low of $23.32 and a twelve month high of $37.86. The company has a market cap of $2.46 billion, a P/E ratio of 11.99 and a beta of 0.94. The business has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $33.25.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.04). The business had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts forecast that Atlantic Union Bankshares will post 3.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Donald R. Kimble purchased 7,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the purchase, the director now owns 7,582 shares in the company, valued at approximately $266,355.66. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in AUB. Louisiana State Employees Retirement System acquired a new stake in Atlantic Union Bankshares during the fourth quarter worth approximately $1,370,000. Charles Schwab Investment Management Inc. grew its stake in Atlantic Union Bankshares by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,051 shares of the company’s stock worth $17,154,000 after purchasing an additional 26,362 shares during the period. London Co. of Virginia grew its stake in Atlantic Union Bankshares by 8.7% during the third quarter. London Co. of Virginia now owns 677,922 shares of the company’s stock worth $19,511,000 after purchasing an additional 54,498 shares during the period. Northern Trust Corp grew its stake in Atlantic Union Bankshares by 0.3% during the third quarter. Northern Trust Corp now owns 977,763 shares of the company’s stock worth $28,140,000 after purchasing an additional 3,364 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Atlantic Union Bankshares by 62.0% during the third quarter. Envestnet Asset Management Inc. now owns 318,334 shares of the company’s stock worth $9,162,000 after purchasing an additional 121,806 shares during the period. 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.