Zacks: Analysts Anticipate Atlantic Union Bankshares Co. (NASDAQ:AUB) Will Announce Quarterly Sales of $171.54 Million

Analysts predict that Atlantic Union Bankshares Co. (NASDAQ:AUBGet Rating) will announce sales of $171.54 million for the current quarter, Zacks reports. Two analysts have issued estimates for Atlantic Union Bankshares’ earnings. The lowest sales estimate is $170.54 million and the highest is $172.54 million. Atlantic Union Bankshares posted sales of $172.16 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.4%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Atlantic Union Bankshares will report full-year sales of $691.32 million for the current fiscal year, with estimates ranging from $682.43 million to $700.22 million. For the next financial year, analysts forecast that the business will report sales of $750.92 million, with estimates ranging from $739.88 million to $761.97 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Atlantic Union Bankshares.

Atlantic Union Bankshares (NASDAQ:AUBGet Rating) last issued its earnings results on Thursday, April 21st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Atlantic Union Bankshares had a net margin of 35.51% and a return on equity of 9.94%. The company had revenue of $164.50 million during the quarter, compared to analyst estimates of $165.66 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Atlantic Union Bankshares from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, January 19th. Stephens lifted their price target on Atlantic Union Bankshares from $44.00 to $45.50 and gave the company an “overweight” rating in a report on Wednesday, January 26th. Keefe, Bruyette & Woods raised Atlantic Union Bankshares from a “market perform” rating to an “outperform” rating in a report on Friday, April 22nd. Finally, Piper Sandler dropped their target price on Atlantic Union Bankshares from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd.

Shares of AUB stock opened at $34.18 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $36.72 and a two-hundred day moving average of $37.67. Atlantic Union Bankshares has a 52 week low of $32.31 and a 52 week high of $42.67. The company has a market cap of $2.56 billion, a P/E ratio of 10.96 and a beta of 1.15.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Friday, May 20th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, May 19th. Atlantic Union Bankshares’s payout ratio is 35.90%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AUB. Vanguard Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,593,445 shares of the company’s stock valued at $278,604,000 after acquiring an additional 44,788 shares in the last quarter. BlackRock Inc. boosted its holdings in Atlantic Union Bankshares by 1.3% in the fourth quarter. BlackRock Inc. now owns 5,471,819 shares of the company’s stock worth $204,044,000 after purchasing an additional 70,685 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Atlantic Union Bankshares by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,659,886 shares of the company’s stock worth $170,973,000 after purchasing an additional 58,055 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Atlantic Union Bankshares by 0.8% in the third quarter. Wellington Management Group LLP now owns 4,288,420 shares of the company’s stock worth $158,028,000 after purchasing an additional 34,910 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Atlantic Union Bankshares by 0.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,108,328 shares of the company’s stock worth $78,620,000 after purchasing an additional 5,710 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.

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Earnings History and Estimates for Atlantic Union Bankshares (NASDAQ:AUB)

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