Atlantic Union Bankshares Co. (NASDAQ:AUB) Declares $0.32 Quarterly Dividend

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.32 per share on Friday, June 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 23rd.

Atlantic Union Bankshares has increased its dividend payment by an average of 6.9% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Atlantic Union Bankshares has a payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atlantic Union Bankshares to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 37.0%.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded up $0.11 during trading on Wednesday, hitting $33.82. 86,554 shares of the stock traded hands, compared to its average volume of 406,653. The firm’s fifty day moving average is $33.52 and its 200-day moving average is $33.40. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94. Atlantic Union Bankshares has a 52 week low of $23.32 and a 52 week high of $37.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a return on equity of 9.47% and a net margin of 19.51%. The firm had revenue of $288.47 million during the quarter, compared to the consensus estimate of $178.82 million. During the same period last year, the business earned $0.63 EPS. Research analysts expect that Atlantic Union Bankshares will post 3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Stephens lowered their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Piper Sandler cut their target price on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, April 29th.

Insider Transactions at Atlantic Union Bankshares

In related news, Director Donald R. Kimble acquired 7,000 shares of Atlantic Union Bankshares stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the transaction, the director now directly owns 7,582 shares in the company, valued at approximately $266,355.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.