Atlantic Union Bankshares (AUB) Expected to Announce Earnings on Thursday

Atlantic Union Bankshares (NASDAQ:AUB) is anticipated to issue its results before the market opens on Thursday, January 22nd. Analysts expect the company to announce earnings of $0.85 per share and revenue of $378.9480 million for the quarter.

Atlantic Union Bankshares (NASDAQ:AUB) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $319.21 million for the quarter, compared to analyst estimates of $377.92 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, analysts expect Atlantic Union Bankshares to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Atlantic Union Bankshares Stock Performance

AUB stock opened at $37.34 on Wednesday. Atlantic Union Bankshares has a 1-year low of $22.85 and a 1-year high of $39.22. The business’s 50-day moving average price is $35.38 and its two-hundred day moving average price is $34.52. The firm has a market cap of $5.32 billion, a PE ratio of 16.31 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Atlantic Union Bankshares’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, November 14th. Atlantic Union Bankshares’s dividend payout ratio is presently 79.14%.

Institutional Trading of Atlantic Union Bankshares

Several hedge funds have recently modified their holdings of AUB. EverSource Wealth Advisors LLC lifted its holdings in shares of Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company’s stock worth $48,000 after purchasing an additional 1,287 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Atlantic Union Bankshares in the third quarter valued at approximately $77,000. Quadrant Capital Group LLC purchased a new position in shares of Atlantic Union Bankshares during the third quarter valued at approximately $109,000. Danske Bank A S purchased a new position in Atlantic Union Bankshares during the 3rd quarter worth $120,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Atlantic Union Bankshares by 1,556.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,457 shares of the company’s stock worth $139,000 after purchasing an additional 4,188 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. National Bankshares set a $46.00 target price on Atlantic Union Bankshares in a research note on Wednesday, September 24th. TD Cowen lifted their target price on Atlantic Union Bankshares from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Janney Montgomery Scott assumed coverage on Atlantic Union Bankshares in a research report on Wednesday, October 8th. They set a “buy” rating and a $42.00 price target on the stock. Morgan Stanley upped their price objective on Atlantic Union Bankshares from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, December 11th. Finally, Cowen reaffirmed a “buy” rating on shares of Atlantic Union Bankshares in a report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.61.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.