Morgan Stanley Forecasts Strong Price Appreciation for Atlantic Union Bankshares (NASDAQ:AUB) Stock

Atlantic Union Bankshares (NASDAQ:AUB) had its target price raised by equities researchers at Morgan Stanley from $42.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 7.27% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised their price objective on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. TD Cowen lifted their target price on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Stephens restated an “overweight” rating and issued a $46.00 price objective on shares of Atlantic Union Bankshares in a report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.62.

Atlantic Union Bankshares Stock Performance

Atlantic Union Bankshares stock traded up $0.09 during trading hours on Monday, hitting $41.95. The company had a trading volume of 754,958 shares, compared to its average volume of 1,096,540. Atlantic Union Bankshares has a one year low of $30.39 and a one year high of $42.22. The firm has a market cap of $6.00 billion, a PE ratio of 18.33 and a beta of 0.80. The firm has a 50-day moving average of $38.18 and a 200 day moving average of $37.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

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

Insider Buying and Selling

In related news, Director Nancy H. Agee bought 650 shares of the company’s stock in a transaction on Monday, April 20th. The shares were purchased at an average cost of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the purchase, the director directly owned 37,797 shares in the company, valued at $1,475,972.85. The trade was a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of Atlantic Union Bankshares by 362.5% during the 4th quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC raised its position in shares of Atlantic Union Bankshares by 504.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after purchasing an additional 1,287 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Atlantic Union Bankshares by 138.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,064 shares of the company’s stock valued at $73,000 after buying an additional 1,200 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Atlantic Union Bankshares during the 3rd quarter valued at approximately $77,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.