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

Atlantic Union Bankshares (NASDAQ:AUB) issued 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. The firm had revenue of $288.47 million during the quarter, compared to analysts’ expectations of $178.82 million. Atlantic Union Bankshares had a net margin of 19.31% and a return on equity of 9.51%. During the same period in the previous year, the firm earned $0.63 EPS.

Atlantic Union Bankshares Price Performance

AUB traded down $0.36 during midday trading on Wednesday, reaching $32.52. 137,010 shares of the company’s stock were exchanged, compared to its average volume of 411,607. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.45 billion, a PE ratio of 12.80 and a beta of 0.94. The business’s 50-day moving average price is $33.63 and its 200 day moving average price is $33.14. Atlantic Union Bankshares has a 1-year low of $23.32 and a 1-year high of $37.86.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders 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 yield of 3.94%. The ex-dividend date of this dividend was Thursday, February 8th. Atlantic Union Bankshares’s payout ratio is currently 50.39%.

Insiders Place Their Bets

In other Atlantic Union Bankshares news, Director Donald R. Kimble bought 7,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price 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 can be accessed through the SEC website. 1.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on AUB. Raymond James boosted their price objective 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 decreased their price objective 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 decreased their price objective 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.

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.