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

Atlantic Union Bankshares (NYSE:AUB) issued its quarterly earnings results on Tuesday. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02, FiscalAI reports. The business had revenue of $387.57 million for the quarter, compared to the consensus estimate of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.74% and a net margin of 15.50%.

Atlantic Union Bankshares Trading Down 1.3%

AUB opened at $42.08 on Tuesday. Atlantic Union Bankshares has a 12 month low of $30.39 and a 12 month high of $43.62. The stock has a fifty day moving average price of $39.57 and a 200-day moving average price of $38.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 17.83 and a beta of 0.79.

Atlantic Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is 62.71%.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently modified their holdings of AUB. EverSource Wealth Advisors LLC boosted its position in Atlantic Union Bankshares by 504.7% during the second 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. acquired a new position in Atlantic Union Bankshares in the third quarter valued at about $77,000. Quadrant Capital Group LLC acquired a new position in Atlantic Union Bankshares during the 3rd quarter worth about $109,000. Inspire Investing LLC acquired a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $115,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Atlantic Union Bankshares by 70.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,307 shares of the company’s stock valued at $118,000 after acquiring an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Wall Street Analysts Forecast Growth

AUB has been the subject of several recent research reports. Stephens reissued an “overweight” rating and issued a $46.00 price target on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Zacks Research cut Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Cowen increased their price target on shares of Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler upped their price target on Atlantic Union Bankshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, Morgan Stanley increased their price objective on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.62.

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.