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

Atlantic Union Bankshares (NASDAQ:AUB) posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $178.82 million. During the same period last year, the firm earned $0.63 EPS.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $33.18 on Thursday. Atlantic Union Bankshares has a 1 year low of $23.32 and a 1 year high of $37.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.50 billion, a PE ratio of 11.07 and a beta of 0.94. The company’s 50 day simple moving average is $33.63 and its two-hundred day simple moving average is $33.14.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.86%. The ex-dividend date was Thursday, February 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

AUB has been the topic of several research reports. Raymond James boosted their price target 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. Stephens lowered their target price on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday.

Insiders Place Their Bets

In related news, Director Donald R. Kimble purchased 7,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $35.13 per share, with a total value of $245,910.00. Following the acquisition, the director now directly owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

About Atlantic Union Bankshares

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.