Atlantic Union Bankshares (NASDAQ:AUB) Announces Earnings Results

Atlantic Union Bankshares (NASDAQ:AUB) released its earnings results on Tuesday. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03), Briefing.com reports. The firm had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same period in the prior year, the business earned $0.90 earnings per share.

Atlantic Union Bankshares Price Performance

Shares of NASDAQ:AUB opened at $37.58 on Wednesday. Atlantic Union Bankshares has a one year low of $24.68 and a one year high of $42.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 16.41 and a beta of 0.82. The firm has a 50 day simple moving average of $37.07 and a 200 day simple moving average of $36.18.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, February 13th. Atlantic Union Bankshares’s dividend payout ratio is currently 72.55%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Atlantic Union Bankshares by 504.7% during the 2nd 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. Johnson Financial Group Inc. bought a new position in Atlantic Union Bankshares in the third quarter valued at about $77,000. Quadrant Capital Group LLC acquired a new stake in shares of Atlantic Union Bankshares during the third quarter valued at about $109,000. Inspire Investing LLC bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter worth about $115,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Atlantic Union Bankshares by 70.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,307 shares of the company’s stock valued at $118,000 after buying an additional 1,364 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on AUB shares. Zacks Research lowered shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Piper Sandler upped their target price on Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Morgan Stanley raised their target price on Atlantic Union Bankshares from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Stephens lifted their price target on Atlantic Union Bankshares from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.