Atlantic Union Bankshares Co. Declares Quarterly Dividend of $0.34 (NASDAQ:AUB)

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 paid 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 3.51%. 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% 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 33.1% meaning its dividend is sufficiently covered by earnings. 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 $1.36 annual dividend with an expected future payout ratio of 32.6%.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock opened at $38.76 on Wednesday. Atlantic Union Bankshares has a twelve month low of $30.43 and a twelve month high of $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $3.48 billion, a P/E ratio of 14.05 and a beta of 0.92. The firm’s 50-day simple moving average is $38.37 and its 200-day simple moving average is $38.66.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Hovde Group lowered their price objective on Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, January 27th. Piper Sandler started coverage on Atlantic Union Bankshares in a research note on Monday, January 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their price objective on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average price target of $44.40.

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.