Atlantic Union Bankshares (NASDAQ:AUB) Issues Earnings Results

Atlantic Union Bankshares (NASDAQ:AUB) released its quarterly earnings results on Tuesday. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $178.82 million. During the same quarter last year, the business posted $0.63 earnings per share.

Atlantic Union Bankshares Stock Down 0.6 %

Atlantic Union Bankshares stock opened at $32.90 on Thursday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 12.20 and a beta of 0.94. Atlantic Union Bankshares has a 52 week low of $23.32 and a 52 week high of $37.86. The business’s 50-day moving average price is $33.63 and its 200 day moving average price is $33.14. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.89%. The ex-dividend date was Thursday, February 8th. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 47.06%.

Insider Buying and Selling

In related news, Director Donald R. Kimble bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the acquisition, the director now directly owns 7,582 shares in the company, valued at $266,355.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AUB shares. 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. Keefe, Bruyette & Woods cut their price objective on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Stephens cut their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock 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.