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

Atlantic Union Bankshares (NASDAQ:AUB) posted its 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 9.51% and a net margin of 19.31%. The company had revenue of $288.47 million during the quarter, compared to analyst estimates of $178.82 million. During the same quarter last year, the firm posted $0.63 earnings per share.

Atlantic Union Bankshares Stock Performance

Shares of AUB traded down $0.36 on Wednesday, reaching $32.52. 137,010 shares of the stock traded hands, compared to its average volume of 411,607. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 12.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86. The stock’s 50-day moving average price is $33.63 and its 200-day moving average price is $33.14.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Thursday, February 8th. Atlantic Union Bankshares’s dividend payout ratio is presently 50.39%.

Insider Activity

In other news, Director Donald R. Kimble acquired 7,000 shares of the stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the transaction, 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 accessible through this hyperlink. 1.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AUB. Raymond James upped their price target on Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Stephens cut their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday.

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.