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

Atlantic Union Bankshares (NASDAQ:AUB) posted its earnings results on Tuesday. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.04), Briefing.com reports. The company had revenue of $288.47 million for the quarter, compared to analysts’ expectations of $178.82 million. Atlantic Union Bankshares had a return on equity of 9.51% and a net margin of 19.31%. During the same quarter in the prior year, the company earned $0.63 EPS.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded down $0.59 during trading on Wednesday, hitting $32.29. The stock had a trading volume of 49,258 shares, compared to its average volume of 410,613. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 12.77 and a beta of 0.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86. The business’s 50-day moving average is $33.63 and its 200 day moving average is $33.14.

Atlantic Union Bankshares Announces Dividend

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

Insider Activity at Atlantic Union Bankshares

In related news, Director Donald R. Kimble acquired 7,000 shares of Atlantic Union Bankshares stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $35.13 per share, with a total value of $245,910.00. Following the completion of the purchase, the director now owns 7,582 shares of the company’s stock, valued at $266,355.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.28% of the stock is owned by insiders.

Analysts Set New Price Targets

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