Atlantic Un Bankshares Corp Stock Price, News & Analysis

The Board of Directors of Atlantic Union Bankshares Corporation (AUB) has declared a quarterly dividend of $0.28 per share, maintaining the previous quarter's amount and reflecting a 12% increase from the same quarter in 2021. With a closing stock price of $39.61 on January 27, 2022, the dividend yield stands at approximately 2.8%. The dividend is payable on February 25, 2022 to shareholders on record by February 11, 2022. Additionally, a dividend for the Series A preferred stock of $171.88 per share is set for distribution on March 1, 2022.

Atlantic Union Bankshares reported a net income of $44.8 million for Q4 2021, with earnings per share of $0.59. For the full year, net income reached $252.0 million and earnings per share totaled $3.26. Adjusted operating earnings for Q4 were $53.8 million, with diluted earnings per share at $0.71. The firm expects continued loan growth and low credit losses in 2022 due to favorable economic conditions. A restructuring plan involves closing 16 branches, incurring $16.5 million in related expenses. A $100 million share repurchase program was also authorized.

Atlantic Union Bank announces Maria Tedesco as the new Chief Operating Officer (COO), effective immediately. Tedesco will maintain her position as President while leading various customer-centric business units, including consumer and business banking, wealth management, and technology operations. CEO John C. Asbury praised her contributions since 2018, emphasizing her customer-first approach. The unification of these units aims to enhance customer experiences and improve internal coordination amidst a changing environment.

Atlantic Union Bankshares Corporation (AUB) will release its fourth quarter and fiscal year 2021 results before market open on January 25, 2022. Following the release, a conference call and webcast for analysts will be held at 9:00 a.m. Eastern Time on the same day. Interested participants can join via the provided toll-free and international dial-in numbers, using conference ID 3699316. The event will also be available for replay on the Company’s website for 90 days.

The Board of Directors of Atlantic Union Bankshares Corporation has authorized a $100 million stock repurchase program lasting until December 9, 2022. The program allows the Company to buy back shares periodically in open market or private transactions. This decision aims to enhance shareholder value, but the timing and execution will depend on various factors, including market conditions and pricing. There is no guarantee that the Company will repurchase any shares during this period.

Atlantic Union Bankshares Corporation (Nasdaq: AUB) has priced a public offering of $250 million in 2.875% Fixed-to-Floating Rate Subordinated Notes due 2031. The offering will close on December 8, 2021, with interest accruing at 2.875% until December 15, 2026, after which it will float based on a benchmark rate plus a spread. The proceeds will be used to repay existing subordinated notes and for general corporate purposes. The offering is expected to enhance the Bank's Tier 2 capital.

The Board of Directors of Atlantic Union Bankshares has declared a quarterly dividend of $0.28 per share, maintaining the previous quarter's rate and representing a 12% increase from the fourth quarter of 2020. With a closing stock price of $35.39 on October 28, 2021, this results in a dividend yield of approximately 3.2%. The dividend is payable on November 26, 2021 to shareholders of record as of November 12, 2021. Additionally, a dividend of $171.88 per share for the 6.875% Perpetual Non-Cumulative Preferred Stock, Series A will be paid on December 1, 2021.

Atlantic Union Bankshares Corporation (AUB) reported a strong third-quarter net income of $71.6 million, translating to earnings per share of $0.94. For the nine months ending September 30, 2021, net income totaled $207.2 million, with earnings per share reaching $2.66. Despite a decrease in net interest income to $137.5 million, largely due to lower Paycheck Protection Program (PPP) loan accretion, the company's credit quality remains strong. Nonperforming assets were stable at 0.28% of total loans. The company declared a dividend of $0.28 per share, maintaining its prior rate.

Atlantic Union Bankshares Corporation has announced it will release its third quarter 2021 financial results before the market opens on October 25, 2021. Following the results, a conference call and webcast will be held at 9:00 a.m. Eastern Time on the same day. Analysts can participate via dedicated telephone lines, with a participant toll-free dial-in number of (866) 220-4170. A replay will be available on the company's website for 90 days post-event.

Headquartered in Richmond, Virginia, Atlantic Union Bank is the main subsidiary of the holding company.