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

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

Atlantic Union Bankshares Stock Up 0.9 %

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

Atlantic Union Bankshares Announces Dividend

The business 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 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 8th. Atlantic Union Bankshares’s payout ratio is 47.06%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AUB shares. Raymond James boosted their price target on shares of Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Stephens cut 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 report on Wednesday. Finally, 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 report on Wednesday.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the purchase, the director now directly owns 7,582 shares in the company, valued at $266,355.66. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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.