Atlantic Union Bankshares price target lowered to $34 from $43 at Raymond James

Raymond James analyst Steve Moss lowered the firm’s price target on Atlantic Union Bankshares to $34 from $43 and keeps an Outperform rating on the shares. Atlantic Union’s Q1 results were disappointing due to greater than forecast NIM pressure, but while NIM pressure should persist due to the difficult interest rate environment, the balance sheet remains strong with ample liquidity, which allowed the bank to meaningfully reduce borrowings and support profitability, the analyst tells investors in a research note.