Atlantic Union Bankshares Co. (NASDAQ:AUB) Announces $0.37 Quarterly Dividend

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Friday, May 22nd will be paid a dividend of 0.37 per share on Friday, June 5th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, May 22nd.

Atlantic Union Bankshares has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Atlantic Union Bankshares has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Atlantic Union Bankshares to earn $4.17 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 35.5%.

Atlantic Union Bankshares Price Performance

NASDAQ AUB traded up $0.76 on Wednesday, reaching $38.60. The company had a trading volume of 183,423 shares, compared to its average volume of 1,081,471. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.52 billion, a PE ratio of 16.82 and a beta of 0.80. The firm’s 50 day moving average price is $36.65 and its 200 day moving average price is $36.30. Atlantic Union Bankshares has a 12 month low of $28.11 and a 12 month high of $42.18.

Atlantic Union Bankshares (NASDAQ:AUB) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The company had revenue of $371.71 million during the quarter, compared to the consensus estimate of $391.24 million. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities analysts predict that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AUB shares. Piper Sandler dropped their price objective on shares of Atlantic Union Bankshares from $47.50 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Zacks Research cut shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Stephens lifted their price objective on shares of Atlantic Union Bankshares from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, Morgan Stanley lifted their price objective on shares of Atlantic Union Bankshares from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.89.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union’s product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.