Stephens Reaffirms “Overweight” Rating for Atlantic Union Bankshares (NASDAQ:AUB)

Atlantic Union Bankshares (NASDAQ:AUB)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $46.00 price objective on the stock. Stephens’ target price points to a potential upside of 17.27% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $46.00 price objective (up from $45.00) on shares of Atlantic Union Bankshares in a research note on Thursday. TD Cowen boosted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley upped their price target on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Zacks Research downgraded Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.88.

Atlantic Union Bankshares Trading Up 1.2%

Atlantic Union Bankshares stock opened at $39.23 on Thursday. The stock has a 50-day moving average price of $37.50 and a 200 day moving average price of $37.15. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 17.14 and a beta of 0.80. Atlantic Union Bankshares has a 52 week low of $29.64 and a 52 week high of $42.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $371.71 million during the quarter, compared to analyst estimates of $391.24 million. During the same quarter last year, the company posted $0.90 EPS. Sell-side analysts anticipate that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Nancy H. Agee bought 650 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was purchased at an average cost of $39.05 per share, with a total value of $25,382.50. Following the acquisition, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. This trade represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Atlantic Union Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Atlantic Union Bankshares by 10.9% in the third quarter. Envestnet Asset Management Inc. now owns 659,791 shares of the company’s stock valued at $23,284,000 after buying an additional 64,806 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Atlantic Union Bankshares by 9.4% during the 3rd quarter. Schroder Investment Management Group now owns 731,359 shares of the company’s stock valued at $26,036,000 after buying an additional 62,614 shares in the last quarter. First National Bank of Omaha acquired a new stake in Atlantic Union Bankshares in the 3rd quarter valued at $2,804,000. William Blair Investment Management LLC grew its stake in Atlantic Union Bankshares by 5.0% in the 3rd quarter. William Blair Investment Management LLC now owns 1,021,450 shares of the company’s stock valued at $36,047,000 after acquiring an additional 48,270 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in Atlantic Union Bankshares by 14.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 555,896 shares of the company’s stock worth $19,618,000 after acquiring an additional 70,159 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.