Atlantic Union Bankshares Co. (AUB) to Issue Quarterly Dividend of $0.34 on June 6th

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Wednesday, May 7th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be paid a dividend of 0.34 per share on Friday, June 6th. This represents a $1.36 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, May 23rd.

Atlantic Union Bankshares has raised its dividend payment by an average of 6.1% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Atlantic Union Bankshares has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Research 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 0.6%

Shares of NASDAQ AUB opened at $30.37 on Wednesday. The firm has a market cap of $4.33 billion, a PE ratio of 13.26 and a beta of 0.83. Atlantic Union Bankshares has a 12-month low of $22.85 and a 12-month high of $44.54. The company’s fifty day simple moving average is $28.54 and its 200 day simple moving average is $35.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Atlantic Union Bankshares in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $32.00 price objective on the stock. 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 research note on Monday, April 28th. Finally, Hovde Group dropped their price objective on shares of Atlantic Union Bankshares from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $39.40.

Institutional Trading of Atlantic Union Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 during the last quarter. Intech Investment Management LLC increased its holdings in Atlantic Union Bankshares by 34.6% during the first quarter. Intech Investment Management LLC now owns 50,701 shares of the company’s stock worth $1,579,000 after buying an additional 13,030 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Atlantic Union Bankshares by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,378 shares of the company’s stock worth $7,766,000 after buying an additional 22,078 shares during the last quarter. Jane Street Group LLC increased its holdings in Atlantic Union Bankshares by 150.6% during the first quarter. Jane Street Group LLC now owns 52,129 shares of the company’s stock worth $1,623,000 after buying an additional 31,329 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Atlantic Union Bankshares by 634.3% during the first quarter. AQR Capital Management LLC now owns 41,902 shares of the company’s stock worth $1,305,000 after buying an additional 36,196 shares during the last quarter. Hedge funds and other institutional investors 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.