Union Bankshares (NYSE:AUB) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued on Monday, MarketBeat.com reports. They currently have a $40.00 price objective on the stock. Raymond James’ target price suggests a potential upside of 6.64% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Boenning Scattergood restated a “hold” rating on shares of Union Bankshares in a research note on Friday, July 19th. Sandler O’Neill downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $40.00 to $37.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $38.50.
Union Bankshares stock opened at $37.51 on Monday. The business’s 50-day simple moving average is $37.32. Union Bankshares has a one year low of $26.48 and a one year high of $40.20.
A number of large investors have recently modified their holdings of AUB. Vanguard Group Inc. acquired a new stake in Union Bankshares in the 2nd quarter valued at about $243,332,000. BlackRock Inc. acquired a new stake in Union Bankshares in the 2nd quarter valued at about $197,900,000. Janus Henderson Group PLC acquired a new stake in Union Bankshares in the 2nd quarter valued at about $73,430,000. Bank of New York Mellon Corp acquired a new stake in Union Bankshares in the 2nd quarter valued at about $56,969,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Union Bankshares in the 2nd quarter valued at about $53,818,000.
Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.
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