Atlantic Union Bankshares (NASDAQ:AUB) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Atlantic Union Bankshares (NASDAQ:AUB) posted its quarterly earnings results on Monday. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01, Briefing.com reports. The business had revenue of $358.81 million for the quarter, compared to analysts’ expectations of $226.70 million. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. During the same quarter last year, the business earned $0.80 earnings per share.

Atlantic Union Bankshares Stock Performance

NASDAQ AUB opened at $36.46 on Wednesday. The firm’s fifty day moving average price is $37.81 and its two-hundred day moving average price is $35.39. Atlantic Union Bankshares has a 1 year low of $26.91 and a 1 year high of $42.50. The firm has a market capitalization of $3.27 billion, a P/E ratio of 13.40 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.51%. Atlantic Union Bankshares’s dividend payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AUB shares. Raymond James lowered their price target on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Hovde Group cut their price target on Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

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.