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

Atlantic Union Bankshares (NASDAQ:AUB) posted its quarterly earnings data 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. The company had revenue of $212.20 million during the quarter, compared to analyst estimates of $216.03 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share.

Atlantic Union Bankshares Stock Up 2.0 %

Shares of AUB stock traded up $0.81 on Friday, reaching $41.98. 547,000 shares of the company were exchanged, compared to its average volume of 417,992. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 15.26 and a beta of 0.90. The company has a 50-day moving average of $33.63 and a 200-day moving average of $33.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares has a one year low of $26.91 and a one year high of $42.50.

Atlantic Union Bankshares Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on AUB shares. Keefe, Bruyette & Woods decreased their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Stephens decreased their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Hovde Group upped their price target on shares of Atlantic Union Bankshares from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Frank Russell Ellett acquired 4,467 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $30.85 per share, with a total value 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 SEC, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

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.