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Earnings
Atlantic Union Bankshares reports Q4 operating EPS 71c, consensus 70c » 07:35
01/21/20
01/21
07:35
01/21/20
07:35
AUB

Atlantic Union Bankshares

$36.81 /

-0.03 (-0.08%)

"Atlantic Union…

"Atlantic Union closed out an eventful 2019 with a solid fourth quarter - continuing to execute on our strategic plan and further improving performance against our key financial metrics despite the challenging interest rate environment," said John C. Asbury, CEO of Atlantic Union Bankshares. "As we begin 2020 we continue to believe we have a great opportunity before us to create something uniquely valuable for our shareholders and the communities we serve and remain keenly focused on reaching the full potential of this powerful franchise." For the fourth quarter of 2019, net interest income was $135.1 million, a decrease of $1.5 million from the third quarter of 2019. Net interest income was $137.8 million in the fourth quarter of 2019, a decrease of $1.6 million from the third quarter of 2019. For the fourth quarter of 2019, net charge-offs were $4.6 million or 0.15% of total average loans on an annualized basis, compared to $7.7 million or 0.25% for the prior quarter, and $5.0 million or 0.21% for the fourth quarter last year. Noninterest income decreased $18.9 million to $29.2 million for the quarter ended December 31, 2019 from $48.1 million in the prior quarter. CET1 capital ratio was 10.24% as of December 31. Book value per common share was $31.58 as of December 31.

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Initiation
Atlantic Union Bankshares resumed with an Equal Weight at Stephens » 16:37
01/06/20
01/06
16:37
01/06/20
16:37
AUB

Atlantic Union Bankshares

$37.47 /

-0.15 (-0.40%)

Stephens analyst Brody…

Stephens analyst Brody Preston resumed coverage of Atlantic Union Bankshares with an Equal Weight rating and $39 price target, saying that he is overall positive on the long-term fundamental outlook for the stock. Preston said tha tht ecompany boasts a "very attractive" deposite profile, with 44% transaction deposits. The analyst added, however, that in the short term he would describe Atlantion Union as a spring that is coiling, as the combination of margin pressure and his expectation for a near-term expense build weigh on 2020 profitability, setting up for a "more positive" outlook for 2021 and beyond.

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Recommendations
Atlantic Union Bankshares management to meet with Compass Point » 04:55
12/10/19
12/10
04:55
12/10/19
04:55
AUB

Atlantic Union Bankshares

$37.59 /

-0.23 (-0.61%)

Meeting to be held in…

Meeting to be held in Boston on December 10 hosted by Compass Point.

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Conference/Events
Atlantic Union Bankshares management to meet with Compass Point » 07:35
12/09/19
12/09
07:35
12/09/19
07:35
AUB

Atlantic Union Bankshares

$37.82 /

+0.45 (+1.20%)

Meetings to be held in…

Meetings to be held in Boston on December 10 hosted by Compass Point.

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Over a quarter ago
Hot Stocks
Atlantic Union Bankshares announces new equipment finance division » 08:27
10/22/19
10/22
08:27
10/22/19
08:27
AUB

Atlantic Union Bankshares

$37.59 /

-0.09 (-0.24%)

Atlantic Union Bank…

Atlantic Union Bank announced a new division of the Bank called Atlantic Union Equipment Finance. Atlantic Union Equipment Finance will provide a wide variety of equipment finance solutions to commercial and corporate customers. This includes providing financing for equipment assets including marine, tractors, trailers, buses, construction, manufacturing and medical, among other types of equipment. Atlantic Union Bank will leverage this new capability to take advantage of opportunities across its Mid-Atlantic footprint, in addition to financing outside the Mid-Atlantic. Jule Kreyling will serve as President of Atlantic Union Equipment Finance and will report to David Ring.

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Downgrade
Atlantic Union Bankshares downgraded to Outperform from Strong Buy at Raymond James » 07:47
10/21/19
10/21
07:47
10/21/19
07:47
AUB

Atlantic Union Bankshares

$37.68 /

+0.37 (+0.99%)

Raymond James analyst…

Raymond James analyst William Wallace downgraded Atlantic Union Bankshares to Outperform from Strong Buy with a $40 price target following Q3 results that were generally as expected, with higher fee income offset by lower spread revenue and higher expenses. The analyst says he expects investor focus moving forward to be on management's core margin guidance, which calls for 3-4 basis of compression in Q4 followed by 4-5 basis points of quarterly compression in 2020.

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Downgrade
Atlantic Union Bankshares downgraded to Outperform on valuation at Raymond James » 06:57
10/21/19
10/21
06:57
10/21/19
06:57
AUB

Atlantic Union Bankshares

$37.68 /

+0.37 (+0.99%)

Raymond James analyst…

Raymond James analyst William Wallace downgraded Atlantic Union Bankshares to Outperform from Strong Buy and maintained a $40 price target citing valuation and lower margin expectations.

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Earnings
Atlantic Union Bankshares reports Q3 operating EPS 69c, consensus 68c » 07:36
10/17/19
10/17
07:36
10/17/19
07:36
AUB

Atlantic Union Bankshares

$36.73 /

-0.35 (-0.94%)

For the third quarter of…

For the third quarter of 2019, net interest income was $136.6M, a decrease of $2M from the second quarter of 2019. Net interest income was $139.4M in the third quarter of 2019, a decrease of $2.1M from the second quarter of 2019. For the third quarter of 2019, net charge-offs were $7.7M or 0.25% of total average loans on an annualized basis, compared to $4.3M or 0.14%, for the prior quarter, and $3.2M or 0.13%, for the third quarter of 2018. Noninterest income increased $17.5M to $48.1M for the quarter ended September 30, 2019 from $30.6M in the prior quarter primarily driven by approximately $9.3M in life insurance proceeds received during the quarter related to a Xenith-acquired loan that had been charged off prior to the Company's acquisition of Xenith and a gain on sale of investment securities of approximately $7.1M recorded during the quarter. CET1 capital ratio was 10.48% as of September 30. Book value per common share was $31.29 as of September 30.

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Downgrade
Fly Intel: Top five analyst downgrades » 10:14
09/25/19
09/25
10:14
09/25/19
10:14
LBTYA

Liberty Global

$24.87 /

+0.12 (+0.48%)

, BORR

Borr Drilling

$5.32 /

-0.04 (-0.75%)

, AUB

Atlantic Union Bankshares

$37.13 /

-0.06 (-0.16%)

, HGV

Hilton Grand Vacations

$32.83 /

+0.15 (+0.46%)

, UCTT

Ultra Clean

$14.53 /

-1.5 (-9.36%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Liberty Global (LBTYA) downgraded to Equal Weight from Overweight at Barclays. 2. Borr Drilling (BORR) downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Atlantic Union Bankshares (AUB) downgraded to Hold from Buy at Sandler O'Neill with analyst Casey Orr citing valuation. 4. Hilton Grand Vacations (HGV) downgraded to Neutral at Janney Montgomery Scott with analyst Tyler Batory saying his rating change was "mostly" due to valuation as he thinks the risk/reward is more balanced following the New York Post article published last month about a potential takeout. 5. Ultra Clean (UCTT) downgraded to Market Perform from Outperform at Cowen with analyst Karl Ackerman saying his field work in Asia suggests investor expectations for memory wafer fab equipment "may be inflated." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Downgrade
Atlantic Union Bankshares downgraded to Hold on valuation at Sandler O'Neill » 08:52
09/25/19
09/25
08:52
09/25/19
08:52
AUB

Atlantic Union Bankshares

$37.19 /

-0.84 (-2.21%)

As previously reported,…

As previously reported, Sandler O'Neill analyst Casey Orr Whitman downgraded Atlantic Union Bankshares to Hold from Buy, "purely on valuation" after the stock's outperformance has driven shares toward the analyst's $40 price target. Orr Whitman lowered 2019 and 2020 EPS estimates due to a more challenging interest rate environment, but said this should be partially offset for Atlantic Union by stronger mortgage banking.

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