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

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

Atlantic Union Bankshares Stock Up 1.0 %

NASDAQ AUB traded up $0.36 on Wednesday, hitting $36.80. 2,092,470 shares of the stock were exchanged, compared to its average volume of 478,963. Atlantic Union Bankshares has a fifty-two week low of $26.91 and a fifty-two week high of $42.50. The company has a 50-day moving average price of $37.81 and a 200-day moving average price of $35.41. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.30 billion, a PE ratio of 13.40 and a beta of 0.89.

Atlantic Union Bankshares Announces Dividend

The company also recently declared 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 was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 3.48%. Atlantic Union Bankshares’s dividend payout ratio is currently 47.06%.

Analysts Set New Price Targets

AUB has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Hovde Group dropped their price target on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Finally, Raymond James cut their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and a consensus price target 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.