Atlantic Union Bankshares Co. (NYSE:AUB) Declares $0.37 Quarterly Dividend

Atlantic Union Bankshares Co. (NYSE:AUB) declared a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 7th will be given a dividend of 0.37 per share on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 7th.

Atlantic Union Bankshares has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. Atlantic Union Bankshares has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Atlantic Union Bankshares to earn $4.02 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 36.8%.

Atlantic Union Bankshares Price Performance

AUB stock traded up $0.28 during trading on Friday, hitting $42.45. The company had a trading volume of 245,253 shares, compared to its average volume of 1,122,755. The company has a fifty day moving average price of $39.90 and a two-hundred day moving average price of $38.45. Atlantic Union Bankshares has a fifty-two week low of $30.39 and a fifty-two week high of $43.62. The company has a market cap of $6.07 billion, a P/E ratio of 12.68 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15.

Atlantic Union Bankshares (NYSE:AUB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. The firm had revenue of $387.57 million during the quarter, compared to analyst estimates of $389.06 million. Atlantic Union Bankshares had a return on equity of 10.55% and a net margin of 21.97%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 earnings per share. Equities research analysts expect that Atlantic Union Bankshares will post 3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $47.00 target price on shares of Atlantic Union Bankshares in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Atlantic Union Bankshares in a research note on Thursday, June 11th. Zacks Research lowered shares of Atlantic Union Bankshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Morgan Stanley lifted their target price on shares of Atlantic Union Bankshares from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Weiss Ratings began coverage on Atlantic Union Bankshares in a report on Monday, July 6th. They issued a “buy (b-)” rating on the stock. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

About Atlantic Union Bankshares

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.