GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Atlantic Union Bankshares Corporation (AUB) on Tuesday reported second-quarter profit of $161 million.
The bank, based in Glen Allen, Virginia, said it had earnings of $1.11 per share. Earnings, adjusted for non-recurring gains, came to 94 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The holding company for Atlantic Union Bank posted revenue of $577.1 million in the period. Its revenue net of interest expense was $419.9 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $395 million.
Atlantic Union shares have climbed 19% since the beginning of the year. The stock has risen 27% 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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