- Atlantic Union’s adjusted revenue FTE for the second quarter was $407.3 million, showing a 92% increase year-over-year, surpassing estimates of $368.5 million.
- Reported earnings per share (EPS) dropped to 12 cents from 25 cents year-over-year.
- Return on average equity decreased to 1.67% from 3.35% year-over-year.
- Return on average assets fell to 0.21% from 0.41% year-over-year, with the estimated figure at 0.96%.
- The net interest margin improved to 3.78% compared to last year’s 3.39%, exceeding the estimated 3.36%.
- Adjusted operating EPS increased to 95 cents from 63 cents year-over-year, beating the estimate of 79 cents.
- The quarter was marked by the completion of a forward sale of common equity, netting $385.0 million before expenses.
- Atlantic Union closed a planned sale of approximately $2.0 billion of commercial real estate (CRE) loans acquired from Sandy Spring, achieving a pre-tax gain of $15.7 million due to favorable pricing.
- The company also sold its equity interest in Cary Street Partners, resulting in a pre-tax gain of $14.3 million.
- Investor recommendations include 5 buys, 2 holds, and no sells.
A look at Atlantic Union Bankshares Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts are optimistic about the long-term outlook for Atlantic Union Bankshares, with the company receiving high Smart Scores across different factors. These scores indicate a positive overall outlook for the banking institution. Notably, Atlantic Union Bankshares scored highly in Value, Dividend, Resilience, and Momentum, showcasing its strength in these areas. With strong marks in these key factors, the company is positioned favorably for future growth and stability.
Atlantic Union Bankshares Corporation, which provides banking services to customers in the United States, has demonstrated its solid performance in various aspects, as reflected in its impressive Smart Scores. With a focus on value, dividends, resilience, and momentum, Atlantic Union Bankshares is well-equipped to navigate the challenges of the banking industry and capitalize on opportunities for growth and development in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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