Union Bankshares (NYSE:AUB) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Union Bankshares (NYSE:AUB) from an outperform rating to a strong-buy rating in a research note issued to investors on Wednesday morning.

AUB has been the topic of several other research reports. Keefe, Bruyette & Woods downgraded Union Bankshares from an outperform rating to a market perform rating and dropped their price objective for the company from $40.00 to $37.00 in a research note on Thursday, September 5th. Boenning Scattergood reiterated a hold rating on shares of Union Bankshares in a research note on Friday, July 19th. Zacks Investment Research downgraded Union Bankshares from a hold rating to a sell rating in a research note on Tuesday, September 17th. Finally, Sandler O’Neill downgraded Union Bankshares from a buy rating to a hold rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $38.50.

Shares of NYSE AUB traded down $0.14 during midday trading on Wednesday, reaching $37.29. The company’s stock had a trading volume of 183,788 shares, compared to its average volume of 307,334. Union Bankshares has a 12-month low of $26.48 and a 12-month high of $40.20. The firm has a 50 day moving average price of $37.39.

Union Bankshares (NYSE:AUB) last posted its quarterly earnings data on Thursday, October 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. The firm had revenue of $184.71 million during the quarter, compared to analysts’ expectations of $167.10 million.

Large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in shares of Union Bankshares during the second quarter worth $26,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Union Bankshares during the second quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Union Bankshares during the second quarter worth $27,000. Panagora Asset Management Inc. purchased a new stake in shares of Union Bankshares during the second quarter worth $32,000. Finally, Signaturefd LLC purchased a new stake in shares of Union Bankshares during the second quarter worth $47,000.

Union Bankshares Company Profile

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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