Atlantic Union Bankshares (NASDAQ:AUB) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Atlantic Union Bankshares (NASDAQ:AUB) released its quarterly earnings data 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 analyst estimates of $178.82 million. During the same period last year, the business earned $0.63 EPS.

Atlantic Union Bankshares Stock Performance

AUB stock traded down $0.59 during midday trading on Wednesday, reaching $32.29. 49,258 shares of the company’s stock traded hands, compared to its average volume of 410,613. The company has a 50-day moving average price of $33.63 and a two-hundred day moving average price of $33.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Atlantic Union Bankshares has a 52 week low of $23.32 and a 52 week high of $37.86. The firm has a market capitalization of $2.43 billion, a PE ratio of 12.77 and a beta of 0.94.

Atlantic Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.28 annualized dividend and a yield of 3.96%. Atlantic Union Bankshares’s payout ratio is 50.39%.

Insider Buying and Selling at Atlantic Union Bankshares

In other news, Director Donald R. Kimble purchased 7,000 shares of the firm’s 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 in the company, valued at approximately $266,355.66. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted their target price on Atlantic Union Bankshares from $34.00 to $39.00 and gave the stock an “outperform” rating in a 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.