Atlantic Union (AUB - Free Report) reported $182.78 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 1.5%. EPS of $0.80 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of +0.70% over the Zacks Consensus Estimate of $181.52 million. With the consensus EPS estimate being $0.76, the EPS surprise was +5.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Atlantic Union performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.6% versus the two-analyst average estimate of 54.6%.
- Net Interest Margin: 3.3% versus 3.4% estimated by two analysts on average.
- Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Average Balance - Total interest earning assets: 18,462.51 million compared to the 18,438.9 million average estimate based on two analysts.
- Mortgage banking income, net: $0.67 million versus $0.80 million estimated by two analysts on average.
- Loan-related interest rate swap fees: $2.70 million compared to the $2.76 million average estimate based on two analysts.
- Interchange fees, net: $2.31 million versus the two-analyst average estimate of $2.48 million.
- Fiduciary and asset management fees: $4.55 million versus the two-analyst average estimate of $4.33 million.
- Total Non Interest Income: $27.09 million versus $25.06 million estimated by two analysts on average.
- Service charges on deposit accounts: $8.56 million versus $8.05 million estimated by two analysts on average.
- Bank owned life insurance income: $2.97 million versus the two-analyst average estimate of $2.86 million.
- Net interest income (FTE): $155.69 million compared to the $156.46 million average estimate based on two analysts.
View all Key Company Metrics for Atlantic Union here>>>Shares of Atlantic Union have returned -1.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Atlantic Union (AUB - Free Report) reported $182.78 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 1.5%. EPS of $0.80 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of +0.70% over the Zacks Consensus Estimate of $181.52 million. With the consensus EPS estimate being $0.76, the EPS surprise was +5.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Atlantic Union performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.6% versus the two-analyst average estimate of 54.6%.
- Net Interest Margin: 3.3% versus 3.4% estimated by two analysts on average.
- Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Average Balance - Total interest earning assets: 18,462.51 million compared to the 18,438.9 million average estimate based on two analysts.
- Mortgage banking income, net: $0.67 million versus $0.80 million estimated by two analysts on average.
- Loan-related interest rate swap fees: $2.70 million compared to the $2.76 million average estimate based on two analysts.
- Interchange fees, net: $2.31 million versus the two-analyst average estimate of $2.48 million.
- Fiduciary and asset management fees: $4.55 million versus the two-analyst average estimate of $4.33 million.
- Total Non Interest Income: $27.09 million versus $25.06 million estimated by two analysts on average.
- Service charges on deposit accounts: $8.56 million versus $8.05 million estimated by two analysts on average.
- Bank owned life insurance income: $2.97 million versus the two-analyst average estimate of $2.86 million.
- Net interest income (FTE): $155.69 million compared to the $156.46 million average estimate based on two analysts.
View all Key Company Metrics for Atlantic Union here>>>Shares of Atlantic Union have returned -1.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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