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

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

Atlantic Union Bankshares Stock Down 2.4 %

Shares of NASDAQ AUB traded down $0.80 during trading hours on Thursday, hitting $32.31. The company had a trading volume of 57,405 shares, compared to its average volume of 412,867. The stock has a market capitalization of $2.44 billion, a P/E ratio of 12.20 and a beta of 0.94. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a 1-year low of $23.32 and a 1-year high of $37.86. The firm’s 50 day moving average is $33.63 and its 200-day moving average is $33.14.

Atlantic Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.28 annualized dividend and a dividend yield of 3.96%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Analysts Set New Price Targets

A number of research firms have issued reports on AUB. Raymond James upped 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. Keefe, Bruyette & Woods lowered their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Stephens lowered their target price on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday.

Insider Activity

In related news, Director Donald R. Kimble acquired 7,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $35.13 per share, with a total value of $245,910.00. Following the acquisition, the director now owns 7,582 shares in the company, valued at approximately $266,355.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

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.