Atlantic Union Bankshares (NASDAQ:AUB) Announces Earnings Results, Misses Expectations By $0.05 EPS

Atlantic Union Bankshares (NASDAQ:AUB) released its quarterly earnings results on Thursday. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05), Briefing.com reports. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The business had revenue of $212.20 million for the quarter, compared to analyst estimates of $216.03 million. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis.

Atlantic Union Bankshares Trading Up 2.0 %

Shares of NASDAQ:AUB traded up $0.81 during midday trading on Friday, hitting $41.98. The company had a trading volume of 547,000 shares, compared to its average volume of 417,992. Atlantic Union Bankshares has a 12 month low of $26.91 and a 12 month high of $42.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 15.26 and a beta of 0.90. The firm has a fifty day simple moving average of $33.63 and a 200 day simple moving average of $33.79.

Atlantic Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.05%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett purchased 4,467 shares of Atlantic Union Bankshares stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $30.85 per share, for a total transaction of $137,806.95. Following the transaction, the director now directly owns 56,801 shares of the company’s stock, valued at $1,752,310.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on AUB. Keefe, Bruyette & Woods lowered their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Piper Sandler lowered their target price on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Stephens lowered their target price on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Hovde Group lifted their target price on Atlantic Union Bankshares from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.