Atlantic Union Bankshares (NASDAQ:AUB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) posted its earnings results on Monday. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01, Briefing.com reports. Atlantic Union Bankshares had a return on equity of 8.95% and a net margin of 15.53%. The company had revenue of $358.81 million for the quarter, compared to analyst estimates of $226.70 million. During the same quarter in the prior year, the company earned $0.80 earnings per share.

Atlantic Union Bankshares Trading Up 0.7 %

Shares of AUB traded up $0.25 during mid-day trading on Tuesday, hitting $36.46. The company had a trading volume of 4,057,076 shares, compared to its average volume of 470,719. Atlantic Union Bankshares has a 1-year low of $26.91 and a 1-year high of $42.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $37.81 and its 200-day simple moving average is $35.39. The stock has a market cap of $3.27 billion, a PE ratio of 13.29 and a beta of 0.89.

Atlantic Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, August 9th. Atlantic Union Bankshares's dividend payout ratio is currently 47.06%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Hovde Group reduced their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, September 13th. Finally, Raymond James dropped their price objective on Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating for the company in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have given a buy 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 price target of $40.40.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.