Piper Sandler Initiates Coverage on Atlantic Union Bankshares (NASDAQ:AUB)

Research analysts at Piper Sandler assumed coverage on shares of Atlantic Union Bankshares (NASDAQ:AUB) in a research report issued on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $51.00 price target on the stock. Piper Sandler’s price objective points to a potential upside of 35.46% from the stock’s current price.

Several other brokerages have also commented on AUB. Raymond James decreased their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $37.65 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.38 billion, a PE ratio of 15.62 and a beta of 0.93. Atlantic Union Bankshares has a 12 month low of $30.43 and a 12 month high of $44.54. The stock has a fifty day moving average price of $40.22 and a 200-day moving average price of $38.45.

Atlantic Union Bankshares (NASDAQ:AUB) last released its quarterly earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $358.81 million during the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.85% and a net margin of 16.25%. During the same period last year, the business posted $0.80 earnings per share. Equities research analysts predict that Atlantic Union Bankshares will post 2.93 earnings per share for the current fiscal year.

Institutional Trading of Atlantic Union Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in Atlantic Union Bankshares by 78.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the company’s stock valued at $35,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Atlantic Union Bankshares by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,041 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Atlantic Union Bankshares by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 1,105 shares of the company’s stock valued at $42,000 after purchasing an additional 483 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at $56,000. Finally, Blue Trust Inc. boosted its holdings in Atlantic Union Bankshares by 110.2% during the third quarter. Blue Trust Inc. now owns 2,089 shares of the company’s stock worth $79,000 after buying an additional 1,095 shares in the last quarter. 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.