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Atlantic Union (AUB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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Atlantic Union (AUB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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.