Atlantic Union Bankshares Co. (AUB) to Issue Quarterly Dividend of $0.32 on June 7th

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.76%. 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 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 Price Performance

Shares of AUB opened at $34.05 on Friday. The company 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 fifty day moving average price of $33.55 and a 200 day moving average price of $33.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Atlantic Union Bankshares has a 12 month low of $23.32 and a 12 month high of $37.86.

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

Insider Activity

In other news, Director Donald R. Kimble acquired 7,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of $35.13 per share, for a total transaction of $245,910.00. Following the completion of the acquisition, the director now directly owns 7,582 shares in the company, valued at approximately $266,355.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Wall Street Analyst Weigh In

AUB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced 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 report on Wednesday, April 24th. Piper Sandler reduced their price target on 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. Finally, Stephens reduced their price target on 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.

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.