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

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, February 14th.

Atlantic Union Bankshares has increased its dividend by an average of 6.1% annually over the last three years and has increased its dividend every year for the last 15 years. Atlantic Union Bankshares has a payout ratio of 33.1% indicating that 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 Stock Performance

NASDAQ AUB traded up $0.22 on Thursday, hitting $38.55. 65,548 shares of the stock traded hands, compared to its average volume of 903,991. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.84 and a beta of 0.92. The business's fifty day moving average is $38.69 and its two-hundred day moving average is $38.73. 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 12 month low of $30.43 and a 12 month high of $44.54.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AUB shares. Piper Sandler initiated coverage on Atlantic Union Bankshares in a report on Monday, January 13th. They issued an "overweight" rating and a $51.00 price objective for the company. Hovde Group reduced their target price on shares of 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.