Atlantic Union Bankshares (NASDAQ:AUB) Upgraded by Zacks Research to Strong-Buy Rating

Atlantic Union Bankshares (NASDAQ:AUB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on AUB. Morgan Stanley boosted their target price on Atlantic Union Bankshares from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 11th. TD Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Stephens increased their target price on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Janney Montgomery Scott began coverage on shares of Atlantic Union Bankshares in a research report on Wednesday, October 8th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $41.77 on Thursday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 18.24 and a beta of 0.83. The firm has a fifty day moving average price of $37.21 and a 200 day moving average price of $35.11. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $42.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $391.33 million for the quarter, compared to analysts’ expectations of $378.95 million. During the same quarter in the previous year, the company earned $0.67 EPS. As a group, sell-side analysts expect that Atlantic Union Bankshares will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC increased its position in shares of Atlantic Union Bankshares by 1.8% in the 3rd quarter. Tritonpoint Wealth LLC now owns 17,522 shares of the company’s stock valued at $618,000 after purchasing an additional 317 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Atlantic Union Bankshares by 1.5% during the second quarter. Walleye Capital LLC now owns 22,000 shares of the company’s stock worth $688,000 after purchasing an additional 322 shares in the last quarter. Benson Investment Management Company Inc. increased its holdings in Atlantic Union Bankshares by 0.3% in the third quarter. Benson Investment Management Company Inc. now owns 107,665 shares of the company’s stock valued at $3,799,000 after buying an additional 355 shares during the last quarter. Accordant Advisory Group Inc raised its stake in Atlantic Union Bankshares by 1.0% in the third quarter. Accordant Advisory Group Inc now owns 36,245 shares of the company’s stock valued at $1,279,000 after buying an additional 364 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in Atlantic Union Bankshares by 100.0% in the third quarter. Westside Investment Management Inc. now owns 780 shares of the company’s stock valued at $27,000 after buying an additional 390 shares in the last quarter. 78.58% of the stock is owned by institutional investors and hedge funds.

Atlantic Union Bankshares Company Profile

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.