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

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) announced 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 4.14%. The ex-dividend date of this dividend is Monday, August 4th.

Atlantic Union Bankshares has a dividend 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 Trading Down 0.7%

Shares of NASDAQ:AUB traded down $0.23 during trading on Monday, reaching $32.85. The stock had a trading volume of 1,019,331 shares, compared to its average volume of 1,468,311. The firm's fifty day moving average is $31.49 and its 200 day moving average is $31.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. Atlantic Union Bankshares has a 52 week low of $22.85 and a 52 week high of $44.54. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 14.34 and a beta of 0.86.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AUB. Morgan Stanley began coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 target price on the stock. Raymond James Financial raised shares of Atlantic Union Bankshares from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $37.00 to $41.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods lowered their target price 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. Piper Sandler lowered their target price on shares of Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the stock a "buy" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atlantic Union Bankshares presently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of Atlantic Union Bankshares by 36.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,072 shares of the company's stock valued at $66,548,000 after acquiring an additional 565,564 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Atlantic Union Bankshares by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company's stock valued at $7,766,000 after acquiring an additional 22,078 shares during the period. Empowered Funds LLC bought a new position in shares of Atlantic Union Bankshares during the 1st quarter valued at approximately $3,011,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Atlantic Union Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,232 shares of the company's stock valued at $1,658,000 after acquiring an additional 2,322 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Atlantic Union Bankshares by 150.6% during the 1st quarter. Jane Street Group LLC now owns 52,129 shares of the company's stock valued at $1,623,000 after acquiring an additional 31,329 shares during the period. 78.58% of the stock is owned by institutional investors.

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.