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

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, May 23rd.

Atlantic Union Bankshares has increased its dividend payment by an average of 6.9% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Atlantic Union Bankshares has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. 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 0.8 %

Shares of AUB stock opened at $34.05 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.06 billion, a P/E ratio of 12.52 and a beta of 0.94. The stock has a 50 day simple moving average of $33.55 and a 200 day simple moving average of $33.41. Atlantic Union Bankshares has a 1 year low of $23.32 and a 1 year high of $37.86.

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

Insider Buying and Selling at Atlantic Union Bankshares

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

Analysts Set New Price Targets

AUB has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating for the company in a research note 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 for the company in a research report on Wednesday, April 24th. Finally, Piper Sandler lowered their price objective 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.

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.