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

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 annualized dividend 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% per year over the last three years and has raised 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 Trading Down 2.0 %

NASDAQ:AUB opened at $37.00 on Tuesday. Atlantic Union Bankshares has a fifty-two week low of $30.43 and a fifty-two week high of $44.54. 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 stock has a market capitalization of $3.32 billion, a PE ratio of 16.16 and a beta of 0.93. The business’s 50-day simple moving average is $38.86 and its 200-day simple moving average is $38.74.

Analysts Set New Price Targets

AUB has been the topic of several recent analyst reports. Piper Sandler initiated coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 price objective on the stock. Hovde Group cut their target price 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. Finally, Keefe, Bruyette & Woods cut their target price 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, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Atlantic Union Bankshares currently has a consensus 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.