Atlantic Union Bankshares (NYSE:AUB) Announces Quarterly Earnings Results, Meets Expectations

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

Atlantic Union Bankshares Price Performance

Shares of NYSE:AUB opened at $37.73 on Tuesday. The company has a market cap of $5.39 billion, a PE ratio of 11.26 and a beta of 0.80. Atlantic Union Bankshares has a fifty-two week low of $30.87 and a fifty-two week high of $43.62. The firm has a 50-day simple moving average of $39.66 and a 200 day simple moving average of $39.53. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given 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 of this dividend was Friday, August 7th. Atlantic Union Bankshares’s dividend payout ratio is currently 44.18%.

Analysts Set New Price Targets

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