Atlantic Union Bankshares Co. (NASDAQ:AUB) Plans Quarterly Dividend of $0.37

Key Points

• Atlantic Union Bankshares (NASDAQ:AUB) declared a quarterly dividend of $0.37 per share, payable June 5 to holders of record on May 22, implying an annual dividend of $1.48 and a 3.8% yield.
• The company has increased its dividend for 14 consecutive years and has a payout ratio of about 38.5%, with analysts forecasting $4.17 EPS next year (a projected payout ratio near 35.5%), suggesting the dividend is well covered.
• In the most recent quarter AUB missed expectations, reporting $0.89 EPS vs. $0.92 expected and $371.7M revenue vs. $391.2M expected; the stock trades near a P/E of ~16.9 with a market cap around $5.5B.

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.37 per share on Friday, June 5th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, May 22nd.

Atlantic Union Bankshares has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Atlantic Union Bankshares has a payout ratio of 38.5% indicating that 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 $1.48 annual dividend with an expected future payout ratio of 35.5%.

Atlantic Union Bankshares Stock Performance

Shares of AUB opened at $38.69 on Wednesday. The stock has a 50 day moving average of $36.65 and a 200 day moving average of $36.30. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 16.88 and a beta of 0.80. Atlantic Union Bankshares has a 12 month low of $28.11 and a 12 month high of $42.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Atlantic Union Bankshares had a return on equity of 8.50% and a net margin of 15.53%.The business had revenue of $371.71 million during the quarter, compared to analysts' expectations of $391.24 million. During the same period in the prior year, the firm posted $0.90 EPS. As a group, sell-side analysts forecast that Atlantic Union Bankshares will post 3.26 earnings per share for the current year.

Insider Activity at Atlantic Union Bankshares

In other news, Director Nancy H. Agee purchased 650 shares of the business's stock in a transaction dated Monday, April 20th. The stock was bought at an average price of $39.05 per share, for a total transaction of $25,382.50. Following the purchase, the director owned 37,797 shares of the company's stock, valued at $1,475,972.85. The trade was a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlantic Union Bankshares

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of Atlantic Union Bankshares by 362.5% in the fourth quarter. IFP Advisors Inc now owns 740 shares of the company's stock worth $26,000 after purchasing an additional 580 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in Atlantic Union Bankshares by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 780 shares of the company's stock worth $27,000 after buying an additional 390 shares during the period. Farther Finance Advisors LLC boosted its holdings in Atlantic Union Bankshares by 309.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 864 shares of the company's stock worth $30,000 after buying an additional 653 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in Atlantic Union Bankshares in the 4th quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in Atlantic Union Bankshares by 504.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,542 shares of the company's stock valued at $48,000 after buying an additional 1,287 shares in the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

About Atlantic Union Bankshares

Atlantic Union Bankshares, Inc is a bank holding company headquartered in Richmond, Virginia, operating through its principal subsidiary Atlantic Union Bank. The company offers a full suite of commercial and consumer banking services to individuals, businesses and institutions across Virginia, Maryland, North Carolina and the District of Columbia. Leveraging a network of full-service branches, commercial lending offices and digital platforms, Atlantic Union Bankshares focuses on relationship-driven solutions tailored to its regional client base.

Atlantic Union's product lineup includes traditional deposit accounts, such as checking, savings and money market accounts, along with certificates of deposit.

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