Atlantic Union Bankshares price target lowered to $45 from $46 at Piper Sandler

Piper Sandler lowered the firm’s price target on Atlantic Union Bankshares (AUB) to $45 from $46 and keeps an Overweight rating on the shares. The firm says the company’s Q2 results reflect a transformative period driven by the Sandy Spring Bank acquisition, bolstering its position as the premier regional bank in the lower mid-Atlantic. Atlantic Union saw sustained loan and deposit growth, effective CRE concentration management, solid credit quality, net interest margin expansion to 3.83%, and disciplined expense management, adds Piper.