Regional banking company Atlantic Union Bankshares (NYSE: AUB) will be reporting results this Thursday before market hours. Here’s what to expect.
Atlantic Union Bankshares missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $213.3 million, up 23% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ net interest income estimates.
Is Atlantic Union Bankshares a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Atlantic Union Bankshares’s revenue to grow 73.8% year on year to $362 million, improving from the 18.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Atlantic Union Bankshares has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Atlantic Union Bankshares’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. City Holding delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3%, and Texas Capital Bank reported revenues up 15.2%, topping estimates by 2.7%. Texas Capital Bank traded up 4.8% following the results.
Read our full analysis of City Holding’s results here and Texas Capital Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.2% on average over the last month. Atlantic Union Bankshares is up 6.1% during the same time and is heading into earnings with an average analyst price target of $39.14 (compared to the current share price of $32.51).
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