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

Atlantic Union Bankshares (NASDAQ:AUB) released its 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 during 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 in the previous year, the firm posted $0.63 EPS.

Atlantic Union Bankshares Stock Performance

AUB traded down $0.93 during trading on Thursday, hitting $32.18. The stock had a trading volume of 50,560 shares, compared to its average volume of 412,721. 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 company has a 50 day moving average price of $33.63 and a 200-day moving average price of $33.14. Atlantic Union Bankshares has a one year low of $23.32 and a one year high of $37.86. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 12.20 and a beta of 0.94.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Thursday, February 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Analyst Ratings Changes

Several equities research analysts have commented on AUB shares. Keefe, Bruyette & Woods cut their price target on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday. Raymond James increased their price objective on Atlantic Union Bankshares from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Finally, Stephens dropped their price target on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday.

Insiders Place Their Bets

In related news, Director Donald R. Kimble bought 7,000 shares of Atlantic Union Bankshares stock in a transaction dated Friday, March 8th. The shares were bought at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.