Atlantic Union Bankshares (NYSE:AUB) Stock Price Breaks Below 50-Day Moving Average – Should You Sell?

Atlantic Union Bankshares Co. (NYSE:AUB – Get Free Report) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $39.24 and traded as low as $38.86. Atlantic Union Bankshares shares last traded at $39.2220, with a volume of 1,026,975 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AUB shares. Weiss Ratings raised shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Morgan Stanley raised their price target on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 28th. Piper Sandler dropped their price target on shares of Atlantic Union Bankshares from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Finally, TD Cowen cut their price objective on shares of Atlantic Union Bankshares from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $45.80.

View Our Latest Stock Report on AUB

Atlantic Union Bankshares Trading Down 0.5%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $39.24 and its 200-day moving average price is $39.03. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 10.72 and a beta of 0.80.

Atlantic Union Bankshares (NYSE:AUB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $387.90 million during the quarter, compared to the consensus estimate of $392.72 million. Atlantic Union Bankshares had a return on equity of 10.79% and a net margin of 23.97%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. Equities analysts expect that Atlantic Union Bankshares Co. will post 3.77 EPS for the current year.

Insider Transactions at Atlantic Union Bankshares

In other Atlantic Union Bankshares news, EVP Matthew L. Linderman sold 7,746 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $40.00, for a total transaction of $309,840.00. Following the transaction, the executive vice president owned 10,455 shares of the company’s stock, valued at $418,200. This trade represents a 42.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds have recently added to or reduced their stakes in the business. Summit Global Investments lifted its position in Atlantic Union Bankshares by 93.4% in the 3rd quarter. Summit Global Investments now owns 11,005 shares of the company’s stock valued at $418,000 after purchasing an additional 5,315 shares during the last quarter. State of Wyoming bought a new position in Atlantic Union Bankshares in the 3rd quarter worth about $62,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Atlantic Union Bankshares by 502.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 56,600 shares of the company’s stock worth $2,148,000 after purchasing an additional 47,200 shares during the last quarter. Park Avenue Securities LLC grew its position in Atlantic Union Bankshares by 2.7% in the 3rd quarter. Park Avenue Securities LLC now owns 12,523 shares of the company’s stock worth $475,000 after purchasing an additional 327 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Atlantic Union Bankshares by 0.3% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 608,055 shares of the company’s stock valued at $23,076,000 after purchasing an additional 1,929 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

About Atlantic Union Bankshares

(Get Free Report)

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.

Further Reading

Receive News & Ratings for Atlantic Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantic Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.