Atlantic Union Bankshares (AUB) Projected to Release Earnings on Tuesday

Key Points

• Atlantic Union Bankshares is expected to report earnings before the market opens on Tuesday, July 21, with analysts forecasting $0.92 EPS and $389.1 million in revenue for the quarter.
• The company’s last quarter missed estimates, posting $0.89 EPS versus the expected $0.92 and revenue of $371.71 million versus $391.24 million.
• Wall Street sentiment remains cautiously positive, with a Moderate Buy consensus rating and an average price target of $43.62 per share.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) is expected to be posting its results before the market opens on Tuesday, July 21st. Analysts expect Atlantic Union Bankshares to post earnings of $0.92 per share and revenue of $389.0580 million for the quarter.

Atlantic Union Bankshares (NYSE:AUB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The company had revenue of $371.71 million for the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a return on equity of 10.74% and a net margin of 15.50%.During the same period in the prior year, the firm posted $0.90 earnings per share. On average, analysts expect Atlantic Union Bankshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Atlantic Union Bankshares Stock Down 0.2%

AUB opened at $41.98 on Tuesday. The stock has a market cap of $6.01 billion, a PE ratio of 17.79 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15. Atlantic Union Bankshares has a 52 week low of $30.39 and a 52 week high of $43.62. The business's fifty day simple moving average is $39.10 and its 200 day simple moving average is $38.09.

Atlantic Union Bankshares Dividend Announcement

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

Insider Activity at Atlantic Union Bankshares

In related news, Director Nancy H. Agee acquired 650 shares of the firm's stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the completion of the acquisition, the director owned 37,797 shares in the company, valued at approximately $1,475,972.85. This represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of AUB. T. Rowe Price Investment Management Inc. bought a new stake in Atlantic Union Bankshares in the fourth quarter valued at approximately $87,022,000. State Street Corp boosted its stake in shares of Atlantic Union Bankshares by 24.5% during the second quarter. State Street Corp now owns 7,400,456 shares of the company's stock valued at $231,486,000 after purchasing an additional 1,457,647 shares during the period. North Reef Capital Management LP grew its holdings in shares of Atlantic Union Bankshares by 23.1% in the fourth quarter. North Reef Capital Management LP now owns 4,572,090 shares of the company's stock worth $161,395,000 after purchasing an additional 858,486 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Atlantic Union Bankshares by 1,956.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 606,377 shares of the company's stock worth $21,405,000 after purchasing an additional 576,891 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Atlantic Union Bankshares by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock worth $66,548,000 after purchasing an additional 565,564 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AUB has been the topic of several recent research reports. Morgan Stanley increased their price objective on 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. TD Cowen boosted their target price on Atlantic Union Bankshares from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Zacks Research lowered Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Stephens reiterated an "overweight" rating and set a $46.00 price target on shares of Atlantic Union Bankshares in a research report on Thursday, June 11th. Finally, Weiss Ratings assumed coverage on shares of Atlantic Union Bankshares in a research report on Monday, July 6th. They set a "buy (b-)" rating on the stock. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.62.

About Atlantic Union Bankshares

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.

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