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

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be paid a dividend of 0.32 per share on Friday, June 7th. This represents a $1.28 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date 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 increased its dividend annually for the last 13 consecutive years. Atlantic Union Bankshares has a payout ratio of 38.9% meaning 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 Trading Up 0.3 %

Shares of Atlantic Union Bankshares stock opened at $33.80 on Thursday. The business has a fifty day simple moving average of $33.53 and a 200-day simple moving average of $33.40. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 12.43 and a beta of 0.94. Atlantic Union Bankshares has a fifty-two week low of $23.32 and a fifty-two 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 posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.04). Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The business had revenue of $288.47 million for the quarter, compared to the consensus estimate of $178.82 million. During the same quarter last year, the business posted $0.63 EPS. On average, equities analysts forecast that Atlantic Union Bankshares will post 3.1 EPS for the current fiscal year.

Analyst Ratings Changes

AUB has been the topic of several recent analyst reports. Stephens cut their price objective on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Piper Sandler lowered their price objective on shares of Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods reduced their target price on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th.

Insiders Place Their Bets

In other news, Director Donald R. Kimble acquired 7,000 shares of Atlantic Union Bankshares stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $35.13 per share, with a total value of $245,910.00. Following the completion of the transaction, the director now owns 7,582 shares in the company, valued at $266,355.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

About Atlantic Union Bankshares

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.