Atlantic Union Bankshares Co. (NYSE:AUB) Raises Dividend to $0.40 Per Share

Atlantic Union Bankshares Co. (NYSE:AUB – Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.40 per share on Friday, November 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, November 13th. This is a 8.1% increase from Atlantic Union Bankshares’s previous quarterly dividend of $0.37.

Atlantic Union Bankshares has increased its dividend by an average of 0.1% annually 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 38.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atlantic Union Bankshares to earn $4.07 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 36.4%.

Atlantic Union Bankshares Trading Up 1.3%

NYSE AUB opened at $39.77 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $39.21 and a 200 day moving average price of $39.04. The stock has a market capitalization of $5.68 billion, a P/E ratio of 10.87 and a beta of 0.80. Atlantic Union Bankshares has a 52-week low of $30.87 and a 52-week high of $43.62.

Atlantic Union Bankshares (NYSE:AUB – Get Free Report) last issued its earnings results on Tuesday, October 20th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $387.90 million for the quarter, compared to analyst estimates of $392.72 million. Atlantic Union Bankshares had a net margin of 23.97% and a return on equity of 10.79%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Equities research analysts expect that Atlantic Union Bankshares will post 3.77 EPS for the current year.

Insider Buying and Selling

In other Atlantic Union Bankshares news, EVP Matthew L. Linderman sold 7,746 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $40.00, for a total value of $309,840.00. Following the completion of the transaction, the executive vice president directly owned 10,455 shares in the company, valued at $418,200. This trade represents a 42.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AUB. Nykredit A S bought a new stake in shares of Atlantic Union Bankshares during the second quarter worth $51,000. EverSource Wealth Advisors LLC lifted its position in Atlantic Union Bankshares by 25.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,544 shares of the company’s stock valued at $55,000 after purchasing an additional 318 shares during the period. State of Wyoming bought a new position in shares of Atlantic Union Bankshares in the 3rd quarter valued at about $62,000. Farther Finance Advisors LLC raised its position in shares of Atlantic Union Bankshares by 24.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $71,000 after acquiring an additional 366 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its stake in shares of Atlantic Union Bankshares by 15.9% in the 3rd quarter. CoreCap Advisors LLC now owns 2,660 shares of the company’s stock valued at $101,000 after purchasing an additional 365 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

About Atlantic Union Bankshares

(Get Free Report)

Atlantic Union Bankshares Corporation (NYSE:AUB) is a financial services holding company headquartered in Richmond, Virginia. Its principal subsidiary, Atlantic Union Bank, provides banking and related financial services to individuals, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury and cash management services, mortgage banking, investment and wealth management, and other financial solutions.

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Dividend History for Atlantic Union Bankshares (NYSE:AUB)

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