Atlantic Union Bankshares Co. (NASDAQ:AUB) to Issue 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 given 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 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 dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

NASDAQ AUB opened at $33.80 on Thursday. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86. 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 50 day moving average of $33.53 and a 200-day moving average of $33.40. The company has a market cap of $3.03 billion, a PE ratio of 12.43 and a beta of 0.94.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). The firm had revenue of $288.47 million during the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.63 EPS. On average, equities research analysts anticipate that Atlantic Union Bankshares will post 3.1 EPS for the current fiscal year.

Insider Transactions at Atlantic Union Bankshares

In other news, Director Donald R. Kimble acquired 7,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 7,582 shares of the company’s stock, valued at $266,355.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in 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 research report on Wednesday, April 24th. Piper Sandler decreased their target price on Atlantic Union Bankshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Stephens cut their price target on Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

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.