Atlantic Union Bankshares (NASDAQ:AUB) Announces Earnings Results, Misses Estimates By $0.07 EPS

Atlantic Union Bankshares (NASDAQ:AUBGet Rating) released its earnings results on Thursday. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07), Fidelity Earnings reports. Atlantic Union Bankshares had a return on equity of 9.74% and a net margin of 35.51%. The business had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $165.66 million. During the same period last year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year.

AUB stock opened at $36.10 on Monday. The company’s 50 day simple moving average is $38.40 and its 200-day simple moving average is $37.95. The firm has a market capitalization of $2.73 billion, a PE ratio of 11.57 and a beta of 1.17. Atlantic Union Bankshares has a 12 month low of $32.31 and a 12 month high of $42.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.83 and a quick ratio of 0.83.

The business also recently announced a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, February 10th. This represents a $1.12 annualized dividend and a yield of 3.10%. Atlantic Union Bankshares’s payout ratio is currently 35.90%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Liberty Wealth Management LLC raised its stake in shares of Atlantic Union Bankshares by 100.3% in the 3rd quarter. Liberty Wealth Management LLC now owns 759 shares of the company’s stock valued at $28,000 after acquiring an additional 380 shares during the period. Toronto Dominion Bank increased its position in shares of Atlantic Union Bankshares by 40.6% in the third quarter. Toronto Dominion Bank now owns 1,133 shares of the company’s stock worth $42,000 after acquiring an additional 327 shares in the last quarter. UMB Bank N A MO purchased a new position in shares of Atlantic Union Bankshares in the fourth quarter worth approximately $52,000. First Horizon Advisors Inc. grew its position in Atlantic Union Bankshares by 119.3% during the fourth quarter. First Horizon Advisors Inc. now owns 2,322 shares of the company’s stock valued at $85,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Atlantic Union Bankshares by 24.4% in the fourth quarter. Lazard Asset Management LLC now owns 2,398 shares of the company’s stock valued at $89,000 after acquiring an additional 471 shares during the last quarter. 69.10% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on AUB shares. Keefe, Bruyette & Woods upgraded shares of Atlantic Union Bankshares from a “market perform” rating to an “outperform” rating in a research note on Friday. Piper Sandler decreased their price objective on shares of Atlantic Union Bankshares from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday. Zacks Investment Research raised shares of Atlantic Union Bankshares from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, January 19th. Finally, Stephens lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $45.50 and gave the stock an “overweight” rating in a research report on Wednesday, January 26th.

About Atlantic Union Bankshares (Get Rating)

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.

See Also

Earnings History for Atlantic Union Bankshares (NASDAQ:AUB)

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