Atlantic Union Bankshares (NASDAQ:AUB) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Atlantic Union Bankshares (NASDAQ:AUB) issued its earnings results on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05), Briefing.com reports. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The firm had revenue of $212.20 million during the quarter, compared to the consensus estimate of $216.03 million. During the same quarter in the prior year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis.

Atlantic Union Bankshares Stock Performance

NASDAQ:AUB opened at $41.89 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.76 billion, a P/E ratio of 15.43 and a beta of 0.90. The firm’s fifty day simple moving average is $33.78 and its 200 day simple moving average is $33.83. Atlantic Union Bankshares has a twelve month low of $26.91 and a twelve month high of $42.50.

Atlantic Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, August 9th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Frank Russell Ellett acquired 4,467 shares of the stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $30.85 per share, with a total value of $137,806.95. Following the completion of the transaction, the director now owns 56,801 shares of the company’s stock, valued at approximately $1,752,310.85. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Hovde Group raised their target price on shares of Atlantic Union Bankshares from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday. Stephens cut 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 report on Wednesday, April 24th. 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, April 24th. Finally, Piper Sandler cut their price target on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

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.