Atlantic Union Bankshares Co. (AUB) To Go Ex-Dividend on February 14th

Atlantic Union Bankshares Co. (NASDAQ:AUB) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders 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 3.56%. The ex-dividend date of this dividend is Friday, February 14th.

Atlantic Union Bankshares has increased its dividend payment by an average of 6.1% per year over the last three years and has raised its dividend annually for the last 15 consecutive 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

Shares of AUB opened at $38.17 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average of $38.77 and a two-hundred day moving average of $38.73. The stock has a market cap of $3.43 billion, a P/E ratio of 13.59 and a beta of 0.92. Atlantic Union Bankshares has a one year low of $30.43 and a one year high of $44.54.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AUB shares. Piper Sandler started coverage on shares of Atlantic Union Bankshares in a report on Monday, January 13th. They set an “overweight” rating and a $51.00 target price for the company. Keefe, Bruyette & Woods cut their price target on Atlantic Union Bankshares from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. Finally, Hovde Group lowered their price target on Atlantic Union Bankshares from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlantic Union Bankshares currently has a consensus rating of “Moderate Buy” and an average price target 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.