Analysts Anticipate Union Bankshares Corporation (NYSE:AUB) Will Announce Earnings of $0.71 Per Share

Wall Street analysts forecast that Union Bankshares Corporation (NYSE:AUB) will post $0.71 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Union Bankshares’ earnings. Union Bankshares reported earnings of $0.70 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The business is expected to announce its next earnings results on Tuesday, January 28th.

On average, analysts expect that Union Bankshares will report full-year earnings of $2.77 per share for the current financial year, with EPS estimates ranging from $2.73 to $2.80. For the next financial year, analysts anticipate that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.85 to $3.13. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Union Bankshares.

Union Bankshares (NYSE:AUB) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. The business had revenue of $184.71 million during the quarter, compared to analysts’ expectations of $167.10 million.

Several equities analysts recently commented on AUB shares. Keefe, Bruyette & Woods downgraded shares of Union Bankshares from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $40.00 to $37.00 in a research note on Thursday, September 5th. Sandler O’Neill downgraded shares of Union Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Raymond James set a $40.00 price objective on shares of Union Bankshares and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Union Bankshares in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.50.

Institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Union Bankshares in the second quarter valued at about $26,000. Capital Investment Advisory Services LLC purchased a new stake in Union Bankshares during the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Union Bankshares during the second quarter valued at about $27,000. Panagora Asset Management Inc. purchased a new stake in Union Bankshares during the second quarter valued at about $32,000. Finally, Signaturefd LLC purchased a new stake in Union Bankshares during the second quarter valued at about $47,000.

Shares of NYSE:AUB opened at $37.68 on Monday. The company has a 50 day moving average of $37.19. Union Bankshares has a one year low of $26.48 and a one year high of $40.20.

About Union Bankshares

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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