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

Atlantic Union Bankshares (NASDAQ:AUB) announced its earnings results on Tuesday. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.04), Briefing.com reports. The business had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. During the same quarter last year, the firm posted $0.63 earnings per share.

Atlantic Union Bankshares Stock Performance

AUB opened at $33.18 on Thursday. The firm has a market cap of $2.50 billion, a P/E ratio of 11.07 and a beta of 0.94. Atlantic Union Bankshares has a 1-year low of $23.32 and a 1-year high of $37.86. The company has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $33.14. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given 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 dividend yield of 3.86%. Atlantic Union Bankshares’s payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Donald R. Kimble purchased 7,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the transaction, the director now directly owns 7,582 shares in the company, valued at approximately $266,355.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.