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

Key Points

• Atlantic Union Bankshares is expected to announce its earnings on October 23rd, with analysts predicting earnings of $0.86 per share and revenue of $377.919 million for the quarter.
• The company reported a 92% increase in quarterly revenue compared to the same period last year, alongside an earnings per share of $0.95 that surpassed analysts' expectations.
• Analysts have given Atlantic Union Bankshares a current average rating of "Moderate Buy" with a target price of $41.56, reflecting strong investor interest and activity, including recent purchases by insiders.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) will likely be releasing its results before the market opens on Thursday, October 23rd. Analysts expect Atlantic Union Bankshares to post earnings of $0.86 per share and revenue of $377.9190 million for the quarter.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $377.22 million during the quarter, compared to analyst estimates of $369.70 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. Atlantic Union Bankshares's quarterly revenue was up 92.0% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. 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

Atlantic Union Bankshares stock opened at $34.90 on Thursday. Atlantic Union Bankshares has a fifty-two week low of $22.85 and a fifty-two week high of $44.54. The stock's 50 day simple moving average is $35.00 and its two-hundred day simple moving average is $31.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 15.24 and a beta of 0.87.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were issued a $0.34 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. Atlantic Union Bankshares's dividend payout ratio is 66.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AUB shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $43.00 target price (up from $42.00) on shares of Atlantic Union Bankshares in a research report on Friday, October 3rd. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Cowen started coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, September 24th. They set a "buy" rating for the company. Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $35.00 to $41.00 and gave the company an "underperform" rating in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.56.

Insider Activity

In other news, CEO John C. Asbury purchased 7,500 shares of Atlantic Union Bankshares stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average price of $32.91 per share, with a total value of $246,825.00. Following the completion of the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. The trade was a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Russell Ellett acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $31.54 per share, with a total value of $157,700.00. Following the completion of the acquisition, the director owned 76,606 shares in the company, valued at $2,416,153.24. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 18,941 shares of company stock valued at $606,502 over the last ninety days. Corporate insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 504.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company's stock valued at $48,000 after buying an additional 1,287 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Atlantic Union Bankshares by 1,556.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,457 shares of the company's stock valued at $139,000 after acquiring an additional 4,188 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Atlantic Union Bankshares during the 2nd quarter valued at about $215,000. Corient Private Wealth LLC bought a new stake in shares of Atlantic Union Bankshares in the second quarter worth approximately $219,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Atlantic Union Bankshares during the second quarter valued at approximately $269,000. Hedge funds and other institutional investors own 78.58% of the company's stock.

Atlantic Union Bankshares Company Profile

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.

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