$166.58 Million in Sales Expected for Union Bankshares Corporation (NYSE:AUB) This Quarter

Brokerages expect that Union Bankshares Corporation (NYSE:AUB) will report sales of $166.58 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Union Bankshares’ earnings, with the lowest sales estimate coming in at $166.37 million and the highest estimate coming in at $166.78 million. Union Bankshares posted sales of $125.85 million during the same quarter last year, which would indicate a positive year over year growth rate of 32.4%. The company is expected to issue its next quarterly earnings results on Wednesday, October 16th.

On average, analysts expect that Union Bankshares will report full-year sales of $659.51 million for the current fiscal year, with estimates ranging from $655.94 million to $663.07 million. For the next year, analysts forecast that the firm will post sales of $696.70 million, with estimates ranging from $685.75 million to $707.65 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Union Bankshares.

Union Bankshares (NYSE:AUB) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $169.17 million during the quarter, compared to the consensus estimate of $169.26 million.



Several equities analysts recently issued reports on the company. Raymond James set a $40.00 price objective on Union Bankshares and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised Union Bankshares from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Union Bankshares in a research report on Friday, July 19th.

AUB stock traded up $1.28 during midday trading on Friday, hitting $36.37. The company’s stock had a trading volume of 286,400 shares, compared to its average volume of 304,044. Union Bankshares has a 12 month low of $26.48 and a 12 month high of $42.64. The business has a 50-day simple moving average of $36.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 2.75%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. purchased a new stake in Union Bankshares during the 2nd quarter valued at $1,202,000. First National Bank of Omaha purchased a new stake in Union Bankshares during the 2nd quarter valued at $1,641,000. Moody Aldrich Partners LLC purchased a new stake in Union Bankshares during the 2nd quarter valued at $5,585,000. Wedge Capital Management L L P NC purchased a new stake in Union Bankshares during the 2nd quarter valued at $11,990,000. Finally, Redmond Asset Management LLC purchased a new stake in Union Bankshares during the 2nd quarter valued at $556,000.

Union Bankshares Company Profile

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.

Recommended Story: What is an inverted yield curve?

Get a free copy of the Zacks research report on Union Bankshares (AUB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Union Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Union Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.