Atlantic Union Bankshares (NASDAQ:AUB) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Atlantic Union Bankshares (NASDAQ:AUB) announced its quarterly earnings results on Tuesday. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04), Briefing.com reports. The firm had revenue of $288.47 million for the quarter, compared to analysts’ expectations of $178.82 million. Atlantic Union Bankshares had a net margin of 19.31% and a return on equity of 9.51%. During the same quarter in the prior year, the business posted $0.63 EPS.

Atlantic Union Bankshares Price Performance

Shares of AUB stock traded down $0.35 on Wednesday, reaching $32.53. 152,398 shares of the company were exchanged, compared to its average volume of 411,797. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.80 and a beta of 0.94. The business has a 50-day moving average price of $33.63 and a 200 day moving average price of $33.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a 1 year low of $23.32 and a 1 year high of $37.86.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.28 dividend on an annualized basis and a yield of 3.93%. Atlantic Union Bankshares’s payout ratio is 50.39%.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Donald R. Kimble bought 7,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the purchase, the director now directly owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Raymond James lifted their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods lowered their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Stephens lowered their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday.

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.