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

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Monday, August 4th will be given a dividend of 0.34 per share on Monday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.11%.

Atlantic Union Bankshares has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.7%

Shares of NASDAQ AUB traded down $0.56 during mid-day trading on Thursday, reaching $33.12. 1,642,939 shares of the company were exchanged, compared to its average volume of 1,473,995. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 14.46 and a beta of 0.86. Atlantic Union Bankshares has a 1 year low of $22.85 and a 1 year high of $44.54. The firm has a 50-day moving average of $31.31 and a 200 day moving average of $32.10.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The firm had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%. The firm's quarterly revenue was up 92.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. On average, research analysts expect that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on AUB. Morgan Stanley began coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $32.00 price target for the company. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $37.00 to $41.00 in a report on Tuesday, June 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Atlantic Union Bankshares from $40.00 to $33.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Jefferies Financial Group set a $37.00 price target on Atlantic Union Bankshares and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Hedge Funds Weigh In On Atlantic Union Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in Atlantic Union Bankshares by 634.3% in the 1st quarter. AQR Capital Management LLC now owns 41,902 shares of the company's stock worth $1,305,000 after purchasing an additional 36,196 shares during the period. Intech Investment Management LLC lifted its stake in Atlantic Union Bankshares by 34.6% in the 1st quarter. Intech Investment Management LLC now owns 50,701 shares of the company's stock valued at $1,579,000 after buying an additional 13,030 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Atlantic Union Bankshares by 150.6% in the first quarter. Jane Street Group LLC now owns 52,129 shares of the company's stock worth $1,623,000 after acquiring an additional 31,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Atlantic Union Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company's stock worth $1,658,000 after buying an additional 2,322 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in Atlantic Union Bankshares in the 1st quarter valued at about $3,011,000. Institutional investors and hedge funds own 78.58% of the company's stock.

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.

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