Atlantic Union Bankshares Co. (NYSE:AUB) Announces Dividend Increase – $0.40 Per Share

Atlantic Union Bankshares Co. (NYSE:AUB) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be given a dividend of $0.40 per share on Friday, November 27th. This represents a $1.60 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 13th. This is a 8.1% increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.37.

Atlantic Union Bankshares has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Atlantic Union Bankshares has a dividend payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atlantic Union Bankshares to earn $4.07 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.4%.

Atlantic Union Bankshares Trading Up 1.3%

NYSE AUB opened at $39.77 on Friday. Atlantic Union Bankshares has a 52 week low of $30.87 and a 52 week high of $43.62. The stock has a market cap of $5.68 billion, a P/E ratio of 10.87 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $39.21 and its 200-day simple moving average is $39.04.

Atlantic Union Bankshares (NYSE:AUB) last announced its earnings results on Tuesday, October 20th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Atlantic Union Bankshares had a return on equity of 10.79% and a net margin of 23.97%. The business had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Atlantic Union Bankshares will post 3.77 EPS for the current fiscal year.

Insider Transactions at Atlantic Union Bankshares

In related news, EVP Matthew L. Linderman sold 7,746 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $40.00, for a total transaction of $309,840.00. Following the transaction, the executive vice president owned 10,455 shares of the company’s stock, valued at approximately $418,200. The trade was a 42.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several large investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Atlantic Union Bankshares by 0.8% during the second quarter. Arizona State Retirement System now owns 39,473 shares of the company’s stock worth $1,670,000 after purchasing an additional 307 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Atlantic Union Bankshares by 25.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock worth $55,000 after purchasing an additional 318 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Atlantic Union Bankshares by 2.7% during the 3rd quarter. Park Avenue Securities LLC now owns 12,523 shares of the company’s stock worth $475,000 after acquiring an additional 327 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Atlantic Union Bankshares by 15.9% during the 3rd quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock valued at $101,000 after purchasing an additional 365 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Atlantic Union Bankshares by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $71,000 after purchasing an additional 366 shares during the period. Institutional investors own 78.58% of the company’s stock.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.