Atlantic Union Bankshares (AUB) PT Lowered to $38 at Piper Sandler

Piper Sandler analyst Casey Orr Whitman lowered the price target on Atlantic Union Bankshares (NASDAQ: AUB) to $38.00 (from $40.00) while maintaining a Overweight rating.

The analyst commented, "A 15 bps drop in the NIM in the Q (to 3.19%) due to higher funding costs was not anticipated. Management updated its 2024 guide to include AMNB - the positive news was that the 4Q24 run-rate was not far off our prior model, and our 2025 EPS estimate came down more modestly than 2024 (4%). The outlook would suggest AUB is still expecting to achieve target profitability of a 1.25% ROA with full cost saves. With our lower estimates, we lower our price target to $38 (from $40), still ~11x our 2025 EPS estimate."

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