Atlantic Union Bankshares Co. (NASDAQ:AUB) Raises Dividend to $0.34 Per Share

Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.34 per share on Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Atlantic Union Bankshares's previous quarterly dividend of $0.32.

Atlantic Union Bankshares has increased its dividend payment by an average of 6.9% per year over the last three years and has increased its dividend every year for the last 13 years. Atlantic Union Bankshares has a payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Atlantic Union Bankshares to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 38.4%.

Atlantic Union Bankshares Stock Down 0.9 %

Shares of AUB traded down $0.32 during mid-day trading on Friday, hitting $36.78. The company's stock had a trading volume of 1,434,813 shares, compared to its average volume of 488,449. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The company's 50-day moving average is $37.82 and its 200-day moving average is $35.45. Atlantic Union Bankshares has a 52-week low of $27.63 and a 52-week high of $42.50. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 15.26 and a beta of 0.89.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last announced its earnings results on Monday, October 21st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.01. Atlantic Union Bankshares had a net margin of 16.25% and a return on equity of 8.85%. The business had revenue of $358.81 million during the quarter, compared to the consensus estimate of $226.70 million. During the same period in the previous year, the company posted $0.80 earnings per share. On average, equities research analysts forecast that Atlantic Union Bankshares will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AUB has been the subject of a number of recent analyst reports. Hovde Group lowered their price objective on Atlantic Union Bankshares from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, September 13th. Raymond James cut their price objective on shares of Atlantic Union Bankshares from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Atlantic Union Bankshares from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.40.

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.