Atlantic Union Bankshares (NASDAQ:AUB) Issues Quarterly Earnings Results

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

Atlantic Union Bankshares Price Performance

NASDAQ:AUB traded down $0.35 during trading hours on Wednesday, hitting $32.53. 152,398 shares of the stock traded hands, compared to its average volume of 411,797. 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 has a 1 year low of $23.32 and a 1 year high of $37.86. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.80 and a beta of 0.94. The stock has a 50 day moving average price of $33.63 and a 200 day moving average price of $33.14.

Atlantic Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.28 annualized dividend and a yield of 3.93%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling at Atlantic Union Bankshares

In related news, Director Donald R. Kimble bought 7,000 shares of the stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the acquisition, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.