Atlantic Union Bankshares (NASDAQ:AUB) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Atlantic Union Bankshares (NASDAQ:AUB – Get Rating) announced its earnings results on Tuesday. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07, Briefing.com reports. Atlantic Union Bankshares had a net margin of 28.76% and a return on equity of 8.79%. The firm had revenue of $226.57 million during the quarter, compared to the consensus estimate of $189.02 million. During the same quarter in the previous year, the company posted $0.71 EPS.

Atlantic Union Bankshares Trading Down 0.3 %

Shares of NASDAQ AUB traded down $0.12 on Wednesday, reaching $37.85. 3,253 shares of the company traded hands, compared to its average volume of 213,797. Atlantic Union Bankshares has a fifty-two week low of $30.26 and a fifty-two week high of $42.00. The company has a 50 day moving average of $35.46 and a 200 day moving average of $34.19. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.83 billion, a PE ratio of 14.27 and a beta of 1.04.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, November 9th. Atlantic Union Bankshares’s dividend payout ratio is currently 45.11%.

Insider Activity

In other news, EVP Robert Michael Gorman bought 3,200 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was acquired at an average price of $34.51 per share, for a total transaction of $110,432.00. Following the acquisition, the executive vice president now owns 53,171 shares of the company’s stock, valued at $1,834,931.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Robert Michael Gorman bought 3,200 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was acquired at an average price of $34.51 per share, for a total transaction of $110,432.00. Following the acquisition, the executive vice president now owns 53,171 shares of the company’s stock, valued at $1,834,931.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Russell Ellett bought 5,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $34.53 per share, with a total value of $172,650.00. Following the acquisition, the director now directly owns 37,313 shares in the company, valued at approximately $1,288,417.89. The disclosure for this purchase can be found here. Insiders purchased a total of 25,435 shares of company stock valued at $882,345 in the last 90 days. 1.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky purchased a new position in Atlantic Union Bankshares in the 3rd quarter worth approximately $1,547,000. Captrust Financial Advisors boosted its stake in shares of Atlantic Union Bankshares by 189.2% during the 3rd quarter. Captrust Financial Advisors now owns 13,991 shares of the company’s stock valued at $425,000 after buying an additional 9,153 shares during the last quarter. State Street Corp boosted its stake in shares of Atlantic Union Bankshares by 1.2% during the 3rd quarter. State Street Corp now owns 2,285,432 shares of the company’s stock valued at $69,431,000 after buying an additional 27,703 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Atlantic Union Bankshares by 19.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 126,772 shares of the company’s stock valued at $3,851,000 after buying an additional 21,033 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Atlantic Union Bankshares by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,034,129 shares of the company’s stock valued at $244,076,000 after buying an additional 410,539 shares during the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AUB shares. Hovde Group started coverage on shares of Atlantic Union Bankshares in a research note on Tuesday, November 29th. They issued an “outperform” rating and a $41.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $42.00 target price on shares of Atlantic Union Bankshares in a research note on Monday, December 5th.

About Atlantic Union Bankshares

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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.