Compared to Estimates, Atlantic Union (AUB) Q1 Earnings: A Look at Key Metrics

Atlantic Union (AUB) reported $177.1 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.1%. EPS of $0.65 for the same period compares to $0.63 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $178.82 million, representing a surprise of -0.96%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.70.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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: 60.7% compared to the 57.3% average estimate based on two analysts.
  • Net Interest Margin: 3.1% versus the two-analyst average estimate of 3.3%.
  • Net charge-offs / total average LHFI (annualized): 0.1% compared to the 0.1% average estimate based on two analysts.
  • Average Balance - Total earning assets: $19.09 billion versus the two-analyst average estimate of $18.91 billion.
  • Mortgage banking income, net: $0.87 million versus $0.68 million estimated by two analysts on average.
  • Loan-related interest rate swap fees: $1.22 million versus $2.35 million estimated by two analysts on average.
  • Interchange fees, net: $2.29 million versus $2.54 million estimated by two analysts on average.
  • Net interest income (FTE): $151.55 million compared to the $153.73 million average estimate based on two analysts.
  • Fiduciary and asset management fees: $4.84 million versus $4.48 million estimated by two analysts on average.
  • Other Operating Income: $2.79 million compared to the $2.15 million average estimate based on two analysts.
  • Service charges on deposit accounts: $8.57 million versus $8.12 million estimated by two analysts on average.
  • Bank owned life insurance income: $3.25 million versus the two-analyst average estimate of $3 million.
View all Key Company Metrics for Atlantic Union here>>>

Shares of Atlantic Union have returned -3.1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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