Atlantic Union Bankshares Corporation (AUB) Stock Analysis

Atlantic Union Bankshares is a Richmond-headquartered regional bank serving Virginia, Maryland, North Carolina, and Washington D.C. Its model combines relationship-driven commercial lending and granular deposits with wealth management, private banking, fiduciary, treasury, and derivative-related fee income. The franchise has a differentiated regional position, with 6.20% pro forma Virginia/Maryland deposit share versus a 2.10% peer average, while offering more scale than community banks and more local speed than national competitors. **Q2 2026 demonstrated strong core earnings power:** adjusted EPS was $0.94 versus $0.92 consensus, adjusted ROTCE was 20.11%, adjusted ROA was 1.47%, and the efficiency ratio was 47.47%. FTE NIM rose nine basis points sequentially to 3.94%, although core NIM was 3.46% and deposit costs caused management to lower 2026 FTE NII guidance to $1.32–$1.33 billion. Loans reached $28.67 billion and deposits $30.47 billion, with NPAs at 0.39% and annualized charge-offs at 0.03%. At $41.36, valuation is approximately 10.9x–12.3x forward P/E and 1.99x TBV; the near-term catalysts are loan repricing, North Carolina growth, buybacks, and further Sandy Spring synergies.