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

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, February 14th.

Atlantic Union Bankshares has raised 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. Research 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 %

Shares of NASDAQ AUB opened at $37.00 on Tuesday. The stock has a market cap of $3.32 billion, a PE ratio of 16.16 and a beta of 0.93. The business has a fifty day moving average of $38.86 and a two-hundred day moving average of $38.74. Atlantic Union Bankshares has a 52-week low of $30.43 and a 52-week 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AUB shares. 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 target price for the company. Keefe, Bruyette & Woods lowered their target price 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. Finally, Hovde Group lowered their target price on Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares currently has an average 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.