GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Atlantic Union Bankshares Corporation (AUB) on Thursday reported third-quarter profit of $92.1 million.
The bank, based in Glen Allen, Virginia, said it had earnings of 63 cents per share. Earnings, adjusted for non-recurring costs, came to 84 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The holding company for Atlantic Union Bank posted revenue of $555.2 million in the period. Its revenue net of interest expense was $375.4 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $378 million.
Atlantic Union shares have decreased 10% since the beginning of the year. The stock has decreased roughly 7% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUB at https://www.zacks.com/ap/AUB
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