Hovde Group Issues Pessimistic Forecast for Atlantic Union Bankshares (NASDAQ:AUB) Stock Price

Atlantic Union Bankshares (NASDAQ:AUB) had its target price cut by analysts at Hovde Group from $47.00 to $46.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Hovde Group’s target price would suggest a potential upside of 22.62% from the stock’s current price.

A number of other research analysts have also recently commented on AUB. Raymond James reduced their target price on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Finally, Piper Sandler started coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average target price of $44.80.

Atlantic Union Bankshares Price Performance

AUB stock opened at $37.52 on Monday. The firm has a market cap of $3.37 billion, a P/E ratio of 15.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a 1 year low of $30.43 and a 1 year high of $44.54. The stock has a 50-day simple moving average of $39.25 and a 200-day simple moving average of $38.77.

Institutional Trading of Atlantic Union Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Atlantic Union Bankshares by 3.0% during the 3rd quarter. State Street Corp now owns 4,492,014 shares of the company’s stock worth $169,214,000 after acquiring an additional 130,104 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Atlantic Union Bankshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,065,862 shares of the company’s stock valued at $77,836,000 after purchasing an additional 14,823 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Atlantic Union Bankshares by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,527 shares of the company’s stock valued at $62,607,000 after acquiring an additional 270,470 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Atlantic Union Bankshares by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 973,480 shares of the company’s stock worth $36,671,000 after purchasing an additional 77,642 shares during the period. Finally, Tributary Capital Management LLC boosted its holdings in Atlantic Union Bankshares by 17.8% in the 4th quarter. Tributary Capital Management LLC now owns 705,842 shares of the company’s stock valued at $26,737,000 after purchasing an additional 106,543 shares during the period. 78.58% of the stock is currently owned by institutional investors.

About Atlantic Union Bankshares

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.