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

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 3.78%. The ex-dividend date of this dividend 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 raised its dividend every year for the last 13 years. Atlantic Union Bankshares has a payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. 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 %

Atlantic Union Bankshares stock traded up $0.11 during trading on Wednesday, reaching $33.82. The company had a trading volume of 86,554 shares, compared to its average volume of 406,653. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94. The stock’s 50 day moving average price is $33.52 and its two-hundred day moving average price is $33.40. Atlantic Union Bankshares has a 12-month low of $23.32 and a 12-month high of $37.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.

Atlantic Union Bankshares (NASDAQ:AUB) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.04). Atlantic Union Bankshares had a net margin of 19.51% and a return on equity of 9.47%. The firm had revenue of $288.47 million during the quarter, compared to analysts’ expectations of $178.82 million. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, equities analysts expect that Atlantic Union Bankshares will post 3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AUB shares. Stephens reduced their price objective on shares of Atlantic Union Bankshares from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods cut their price objective on shares of Atlantic Union Bankshares from $36.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Piper Sandler decreased 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.

Insider Activity

In other Atlantic Union Bankshares news, Director Donald R. Kimble purchased 7,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $35.13 per share, with a total value of $245,910.00. Following the transaction, the director now directly owns 7,582 shares in the company, valued at approximately $266,355.66. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is owned by insiders.

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.