Atlantic Union Bankshares Corporation’s (AUB) earnings are expected to continue to increase in 2020 chiefly on the back of loan growth. This increase in AUB’s loan portfolio is partly attributable to opportunities that have arisen from the Truist merger and the resultant disruption in the industry.
Absence of merger related expenses is also expected to lead to higher earnings this year compared to 2019. I have arrived at a target price of $39.1 for AUB, which suggests an 11% upside from the current market price. Hence, I’m adopting a ‘bullish’ rating on the