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

Atlantic Union Bankshares (NASDAQ:AUB) issued its quarterly earnings data on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05), Briefing.com reports. The firm had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.03 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share.

Atlantic Union Bankshares Trading Up 1.7 %

Shares of NASDAQ AUB traded up $0.72 during trading hours on Friday, hitting $41.89. 547,000 shares of the company traded hands, compared to its average volume of 569,387. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 15.43 and a beta of 0.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $33.78 and its 200 day moving average price is $33.83. Atlantic Union Bankshares has a 12 month low of $26.91 and a 12 month high of $42.50.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced 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. This represents a $1.28 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Insider Activity

In related news, Director Frank Russell Ellett bought 5,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $31.71 per share, with a total value of $158,550.00. Following the transaction, the director now owns 47,334 shares in the company, valued at approximately $1,500,961.14. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AUB. Piper Sandler decreased their price objective on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Hovde Group upped their price objective on Atlantic Union Bankshares from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday. Stephens decreased their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.