Atlantic Union Bankshares (NYSE:AUB) Issues Quarterly Earnings Results

Atlantic Union Bankshares (NYSE:AUB) issued its earnings results on Tuesday. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96, FiscalAI reports. The firm had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.

Atlantic Union Bankshares Stock Performance

AUB stock opened at $37.73 on Tuesday. The company has a market capitalization of $5.39 billion, a P/E ratio of 11.26 and a beta of 0.80. The company has a 50-day simple moving average of $39.66 and a 200 day simple moving average of $39.53. Atlantic Union Bankshares has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 7th. Atlantic Union Bankshares’s payout ratio is currently 44.18%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AUB. TD Cowen reduced their price target on shares of Atlantic Union Bankshares from $48.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 5th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of Atlantic Union Bankshares in a research report on Wednesday, July 22nd. Morgan Stanley increased their price objective on shares of Atlantic Union Bankshares from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 28th. Finally, Weiss Ratings raised shares of Atlantic Union Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Atlantic Union Bankshares has a consensus rating of “Moderate Buy” and an average price target of $46.40.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.