- Atlantic Union’s net interest margin increased to 3.31% from 3.27% compared to the previous year.
- Earnings per share (EPS) rose to 82 cents, up from 68 cents year-over-year.
- The provision for credit losses dropped by 48% year-over-year to $2.60 million, significantly below the estimated $6.26 million.
- Return on average assets increased to 1.24% from 1.04% the previous year, which is above the estimated 1.21%.
- Adjusted operating EPS increased to 83 cents from 80 cents year-over-year.
- Atlantic Union announced an agreement to acquire Sandy Spring in an all-stock transaction valued at $1.6 billion, offering $34.93 per share.
- The goodwill associated with Atlantic Union’s acquisition of American National Bankshares totaled $287.5 million as of September 30, 2024.
- John C. Asbury, CEO, expressed confidence in the enhanced earnings power due to the American National Bankshares acquisition.
- The company has received three buy ratings, one hold rating, and no sell ratings from analysts.
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A look at Atlantic Union Bankshares Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
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
Looking at the Smartkarma Smart Scores, Atlantic Union Bankshares Corporation seems to have a positive long-term outlook. With strong scores in Value and Dividend at 4 each, the company is deemed to be financially sound and rewarding for investors looking for steady returns. While Growth and Resilience are rated slightly lower at 3, the company still shows promise in these areas. Moreover, with a Momentum score of 4, Atlantic Union Bankshares appears to be gaining traction and attracting attention in the market.
Atlantic Union Bankshares Corporation offers various banking services to customers in the United States, including checking accounts, lending, credit cards, online and mobile banking, as well as wealth and treasury management services. With its solid Smart Scores, investors may find Atlantic Union Bankshares to be a reliable option for long-term growth and income generation in the banking sector.
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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