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

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced 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 3.68%. The ex-dividend date is Friday, February 14th.

Atlantic Union Bankshares has raised its dividend by an average of 6.1% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Atlantic Union Bankshares has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of AUB traded down $0.77 during mid-day trading on Monday, hitting $37.00. 499,008 shares of the company traded hands, compared to its average volume of 920,007. Atlantic Union Bankshares has a 1 year low of $30.43 and a 1 year 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 stock has a 50-day moving average price of $38.99 and a two-hundred day moving average price of $38.76. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 16.16 and a beta of 0.92.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AUB shares. Hovde Group lowered their price target on Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, January 27th. Piper Sandler initiated coverage on Atlantic Union Bankshares in a research report on Monday, January 13th. They issued an “overweight” rating and a $51.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.