Atlantic Union Bankshares Co. (NASDAQ:AUB) to Issue $0.34 Quarterly Dividend

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.34 per share on Friday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, February 14th.

Atlantic Union Bankshares has increased its dividend payment by an average of 6.1% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Atlantic Union Bankshares has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Atlantic Union Bankshares to earn $4.16 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 32.7%.

Atlantic Union Bankshares Stock Down 2.0 %

AUB stock traded down $0.77 during midday trading on Monday, hitting $37.00. The stock had a trading volume of 499,008 shares, compared to its average volume of 920,007. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 16.16 and a beta of 0.92. The business has a 50-day moving average of $38.99 and a two-hundred day moving average of $38.76. Atlantic Union Bankshares has a 52-week low of $30.43 and a 52-week high of $44.54.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AUB. Piper Sandler assumed coverage on shares of Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target for the company. Hovde Group lowered their target price on shares of Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Atlantic Union Bankshares has an average rating of “Moderate Buy” and an average target price of $44.40.

Atlantic Union Bankshares Company Profile

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.