Atlantic Union Bankshares (NYSE:AUB) Posts Quarterly Earnings Results, Hits Estimates

Atlantic Union Bankshares (NYSE:AUB) posted its quarterly earnings data 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 during 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

Shares of AUB opened at $37.73 on Tuesday. Atlantic Union Bankshares has a one year low of $30.87 and a one year high of $43.62. The company has a market cap of $5.39 billion, a PE ratio of 11.26 and a beta of 0.80. The stock has a 50-day moving average of $39.66 and a 200-day moving average of $39.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Atlantic Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.37 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.48 annualized dividend and a dividend yield of 3.9%. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 44.18%.

Analyst Upgrades and Downgrades

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