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

Atlantic Union Bankshares Co. (NASDAQ:AUB) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors 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 3.56%. The ex-dividend date of this dividend 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 raised 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 Up 3.2 %

AUB opened at $38.17 on Wednesday. Atlantic Union Bankshares has a one year low of $30.43 and a one year high of $44.54. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 13.59 and a beta of 0.92. The business’s fifty day moving average is $38.77 and its two-hundred day moving average is $38.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91.

Wall Street Analysts Forecast Growth

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