- Atlantic Union’s provision for credit losses for the third quarter was $2.60 million, a 48% year-over-year decrease, surpassing the estimated $6.26 million.
- Earnings per Share (EPS) rose to 82 cents from 68 cents year-over-year.
- The company’s Return on Average Assets increased to 1.24%, up from 1.04% year-over-year, exceeding the estimated 1.21%.
- The Net Interest Margin improved slightly to 3.31% from 3.27% year-over-year.
- Adjusted Operating EPS increased to 83 cents from 80 cents year-over-year.
- Atlantic Union announced plans to acquire Sandy Spring for $34.93 per share in a deal valued at $1.6 billion.
- John C. Asbury, CEO of Atlantic Union, commented on the solid financial results and the positive impact of the American National Bankshares acquisition.
- Stock analyst ratings for Atlantic Union included 3 buys, 1 hold, and 0 sells.
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
According to Smartkarma Smart Scores, Atlantic Union Bankshares shows promise for long-term growth and stability. With high scores in Value and Dividend at 4, investors may find the company to be a good value proposition with promising dividend potential. Its Momentum score of 4 indicates a positive trend in stock performance, suggesting optimism in the market. While Growth and Resilience scores are slightly lower at 3, the overall outlook for Atlantic Union Bankshares seems solid.
Atlantic Union Bankshares is a banking services provider catering to customers in the United States. Offering a range of financial products such as checking accounts, lending, credit cards, online and mobile banking, as well as wealth and treasury management services. The company’s above-average scores in Value, Dividend, and Momentum highlight its potential for investors seeking a stable yet prosperous investment 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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