Atlantic Union Bankshares (AUB) to Release Quarterly Earnings on Thursday

Atlantic Union Bankshares (NASDAQ:AUB) is expected to issue its results before the market opens on Thursday, October 23rd. Analysts expect the company to announce earnings of $0.86 per share and revenue of $377.9190 million for the quarter.

Atlantic Union Bankshares (NASDAQ:AUB) last released its earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $377.22 million during the quarter, compared to the consensus estimate of $369.70 million. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 92.0% compared to the same quarter last year. On average, analysts expect Atlantic Union Bankshares to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Atlantic Union Bankshares Stock Down 0.5%

NASDAQ:AUB opened at $34.15 on Wednesday. Atlantic Union Bankshares has a twelve month low of $22.85 and a twelve month high of $44.54. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 14.91 and a beta of 0.87. The stock has a fifty day simple moving average of $35.13 and a 200-day simple moving average of $31.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 4th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 66.02%.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett bought 5,000 shares of Atlantic Union Bankshares stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $31.54 per share, for a total transaction of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares of the company’s stock, valued at $2,416,153.24. This trade represents a 6.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. Asbury bought 7,500 shares of Atlantic Union Bankshares stock in a transaction on Monday, July 28th. The stock was purchased at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the acquisition, the chief executive officer directly owned 270,532 shares of the company’s stock, valued at $8,903,208.12. This represents a 2.85% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 18,941 shares of company stock valued at $606,502 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock valued at $48,000 after acquiring an additional 1,287 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Atlantic Union Bankshares by 1,556.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,457 shares of the company’s stock valued at $139,000 after acquiring an additional 4,188 shares in the last quarter. Cresset Asset Management LLC acquired a new position in shares of Atlantic Union Bankshares during the second quarter valued at about $215,000. Corient Private Wealth LLC acquired a new position in shares of Atlantic Union Bankshares during the second quarter valued at about $219,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Atlantic Union Bankshares during the second quarter valued at about $269,000. Institutional investors and hedge funds own 78.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AUB shares. Keefe, Bruyette & Woods upped their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Morgan Stanley upped their price objective on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $43.00 price objective (up from $42.00) on shares of Atlantic Union Bankshares in a research note on Friday, October 3rd. TD Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Thursday, September 25th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Atlantic Union Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.56.

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.