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Here's What Key Metrics Tell Us About Atlantic Union (AUB) Q2 Earnings
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For the quarter ended June 2023, Atlantic Union (AUB - Free Report) reported revenue of $179.95 million, down 0.4% over the same period last year. EPS came in at $0.74, compared to $0.69 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $178.57 million, representing a surprise of +0.77%. The company delivered an EPS surprise of +5.71%, with the consensus EPS estimate being $0.70.
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: 59.94% compared to the 57.31% average estimate based on two analysts.
Net Interest Margin: 3.37% versus the two-analyst average estimate of 3.36%.
Net charge-offs to average loans: 0.04% compared to the 0.09% average estimate based on two analysts.
Average Balance - Total interest earning assets: 18091.81 million versus the two-analyst average estimate of 18253.73 million.
Mortgage banking income, net: $0.45 million versus the two-analyst average estimate of $1.56 million.
Loan-related interest rate swap fees: $2.32 million compared to the $2.74 million average estimate based on two analysts.
Interchange fees, net: $2.46 million versus $2.37 million estimated by two analysts on average.
Net interest income (FTE): $155.75 million compared to the $152.58 million average estimate based on two analysts.
Fiduciary and asset management fees: $4.36 million versus the two-analyst average estimate of $4.23 million.
Other Operating Income: $1.93 million versus $2.46 million estimated by two analysts on average.
Service charges on deposit accounts: $8.12 million versus the two-analyst average estimate of $8.06 million.
Bank owned life insurance income: $2.87 million versus $2.84 million estimated by two analysts on average.
Shares of Atlantic Union have returned +18.2% over the past month versus the Zacks S&P 500 composite's +4.9% 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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Here's What Key Metrics Tell Us About Atlantic Union (AUB) Q2 Earnings
For the quarter ended June 2023, Atlantic Union (AUB - Free Report) reported revenue of $179.95 million, down 0.4% over the same period last year. EPS came in at $0.74, compared to $0.69 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $178.57 million, representing a surprise of +0.77%. The company delivered an EPS surprise of +5.71%, with the consensus EPS estimate being $0.70.
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: 59.94% compared to the 57.31% average estimate based on two analysts.
- Net Interest Margin: 3.37% versus the two-analyst average estimate of 3.36%.
- Net charge-offs to average loans: 0.04% compared to the 0.09% average estimate based on two analysts.
- Average Balance - Total interest earning assets: 18091.81 million versus the two-analyst average estimate of 18253.73 million.
- Mortgage banking income, net: $0.45 million versus the two-analyst average estimate of $1.56 million.
- Loan-related interest rate swap fees: $2.32 million compared to the $2.74 million average estimate based on two analysts.
- Interchange fees, net: $2.46 million versus $2.37 million estimated by two analysts on average.
- Net interest income (FTE): $155.75 million compared to the $152.58 million average estimate based on two analysts.
- Fiduciary and asset management fees: $4.36 million versus the two-analyst average estimate of $4.23 million.
- Other Operating Income: $1.93 million versus $2.46 million estimated by two analysts on average.
- Service charges on deposit accounts: $8.12 million versus the two-analyst average estimate of $8.06 million.
- Bank owned life insurance income: $2.87 million versus $2.84 million estimated by two analysts on average.
View all Key Company Metrics for Atlantic Union here>>>Shares of Atlantic Union have returned +18.2% over the past month versus the Zacks S&P 500 composite's +4.9% 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.