Atlantic Union Bankshares (NASDAQ:AUB) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Atlantic Union Bankshares reported quarterly EPS of $0.89, missing the consensus estimate of $0.92 by $0.03 and its stock was down about 0.4% (opened at $38.70).
• The company pays a quarterly dividend of $0.37 (annualized $1.48) representing a 3.8% yield and a payout ratio of 72.55%.
• Analysts show a generally positive view with a consensus rating of "Moderate Buy", an average price target of $43.17, and several firms raising targets into the mid-$40s.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03), Briefing.com reports. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the previous year, the firm posted $0.90 earnings per share.

Atlantic Union Bankshares Stock Down 0.4%

AUB opened at $38.70 on Tuesday. 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 company has a market cap of $5.54 billion, a price-to-earnings ratio of 16.90 and a beta of 0.82. Atlantic Union Bankshares has a one year low of $24.01 and a one year high of $42.18. The business's fifty day moving average is $37.15 and its two-hundred day moving average is $36.16.

Atlantic Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 3.8%. Atlantic Union Bankshares's payout ratio is currently 72.55%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Zacks Research downgraded shares of Atlantic Union Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Stephens raised their price objective on Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, January 26th. Finally, Piper Sandler increased their price target on shares of Atlantic Union Bankshares from $41.50 to $47.50 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Hedge Funds Weigh In On Atlantic Union Bankshares

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new position in shares of Atlantic Union Bankshares in the second quarter valued at approximately $219,000. Vise Technologies Inc. purchased a new stake in shares of Atlantic Union Bankshares in the fourth quarter valued at $217,000. Cresset Asset Management LLC acquired a new position in Atlantic Union Bankshares in the second quarter valued at $215,000. Claris Financial LLC acquired a new position in Atlantic Union Bankshares in the fourth quarter valued at $210,000. Finally, Wealthspire Advisors LLC boosted its position in shares of Atlantic Union Bankshares by 11.4% in the fourth quarter. Wealthspire Advisors LLC now owns 5,866 shares of the company's stock worth $207,000 after acquiring an additional 599 shares during the last quarter. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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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