Barclays Boosts Atlantic Union Bankshares (NASDAQ:AUB) Price Target to $40.00


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Atlantic Union Bankshares (NASDAQ:AUB) had its price target raised by research analysts at Barclays from $30.00 to $40.00 in a research report issued on Thursday, The Fly reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.29% from the company’s current price.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Atlantic Union Bankshares from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, December 22nd. Piper Sandler lifted their price target on Atlantic Union Bankshares from $23.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. ValuEngine upgraded Atlantic Union Bankshares from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. TheStreet upgraded shares of Atlantic Union Bankshares from a “c+” rating to a “b” rating in a research report on Friday, October 23rd. Finally, BidaskClub raised shares of Atlantic Union Bankshares from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.25.

NASDAQ AUB opened at $36.60 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. Atlantic Union Bankshares has a 12 month low of $18.55 and a 12 month high of $37.78. The company’s fifty day moving average price is $33.34 and its two-hundred day moving average price is $29.17. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 19.16 and a beta of 1.41.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.22. The firm had revenue of $171.79 million for the quarter, compared to analysts’ expectations of $169.63 million. Atlantic Union Bankshares had a return on equity of 6.11% and a net margin of 19.47%. As a group, analysts anticipate that Atlantic Union Bankshares will post 2 EPS for the current year.

In other news, EVP Loreen A. Lagatta sold 2,800 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $29.90, for a total transaction of $83,720.00. Following the completion of the transaction, the executive vice president now directly owns 13,000 shares of the company’s stock, valued at approximately $388,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank Russell Ellett purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 4th. The stock was bought at an average cost of $32.37 per share, for a total transaction of $32,370.00. Following the purchase, the director now directly owns 9,708 shares in the company, valued at approximately $314,247.96. The disclosure for this purchase can be found here. In the last three months, insiders bought 7,000 shares of company stock worth $227,070. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. GW&K Investment Management LLC raised its stake in shares of Atlantic Union Bankshares by 1.7% during the third quarter. GW&K Investment Management LLC now owns 814,935 shares of the company’s stock worth $17,415,000 after purchasing an additional 13,645 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Atlantic Union Bankshares by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 606,776 shares of the company’s stock worth $14,053,000 after acquiring an additional 10,860 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Atlantic Union Bankshares by 0.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 362,489 shares of the company’s stock worth $7,746,000 after buying an additional 3,320 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Atlantic Union Bankshares by 30.3% in the third quarter. Jennison Associates LLC now owns 360,058 shares of the company’s stock worth $7,694,000 after buying an additional 83,768 shares during the period. Finally, ProShare Advisors LLC raised its position in Atlantic Union Bankshares by 7.9% during the third quarter. ProShare Advisors LLC now owns 332,808 shares of the company’s stock valued at $7,112,000 after acquiring an additional 24,272 shares in the last quarter. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Atlantic Union Bankshares

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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