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

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

Atlantic Union Bankshares (NYSE:AUB) last announced its quarterly earnings results 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). Atlantic Union Bankshares had a net margin of 15.50% and a return on equity of 10.74%. The business had revenue of $371.71 million for the quarter, compared to analysts’ expectations of $391.24 million. During the same quarter in the prior year, the firm earned $0.90 EPS. 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%

Shares of NYSE:AUB opened at $41.98 on Tuesday. The stock’s 50-day moving average is $39.10 and its 200 day moving average is $38.09. The company has a market cap of $6.01 billion, a PE ratio of 17.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. Atlantic Union Bankshares has a 1 year low of $30.39 and a 1 year high of $43.62.

Atlantic Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, May 22nd. Atlantic Union Bankshares’s dividend payout ratio (DPR) is currently 62.71%.

Insider Buying and Selling

In other news, Director Nancy H. Agee acquired 650 shares of the business’s stock in a transaction on Monday, April 20th. The shares were acquired at an average cost of $39.05 per share, with a total value of $25,382.50. Following the transaction, the director owned 37,797 shares in the company, valued at $1,475,972.85. The trade was a 1.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new stake in shares of Atlantic Union Bankshares during the fourth quarter valued at approximately $87,022,000. State Street Corp grew its stake in Atlantic Union Bankshares by 24.5% in the second quarter. State Street Corp now owns 7,400,456 shares of the company’s stock worth $231,486,000 after purchasing an additional 1,457,647 shares during the period. North Reef Capital Management LP raised its holdings in 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 in the last quarter. Balyasny Asset Management L.P. raised its holdings in 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Analysts Set New Price Targets

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