Welcome to our dedicated page for Atlantic Union Bankshares Corporation news (Ticker: AUB), a resource for investors and traders seeking the latest updates and insights on Atlantic Union Bankshares Corporation stock.
Atlantic Union Bankshares Corporation (NASDAQ: AUB), headquartered in Richmond, Virginia, is a financial holding company that operates through its main subsidiary, Atlantic Union Bank. The bank offers a comprehensive range of financial services to both commercial and retail clients, making it a full-service community bank.
Atlantic Union Bank is the largest community banking institution in the Commonwealth of Virginia, extending its presence through 114 branches and approximately 130 ATMs located throughout Virginia, and parts of Maryland and North Carolina. The bank's non-bank affiliates include Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which offers brokerage services; and Union Insurance Group, LLC, providing various insurance products.
The company's core business segments include Wholesale Banking and Consumer Banking. Services offered range from traditional banking products like checking, savings, and certificates of deposit to more specialized services such as loans for commercial, industrial, residential mortgage, and consumer purposes. Additionally, Atlantic Union Bank provides trust and wealth management services, enhancing its portfolio of financial offerings.
Recently, Atlantic Union Bank enhanced its commitment to the clean energy sector by partnering with SolaREIT™, a renewable energy real estate investment company. The bank closed a $30 million revolving credit facility with SolaREIT™, marking their second partnership aimed at providing financing solutions to solar and battery energy storage developers. This initiative underscores Atlantic Union Bank's dedication to supporting sustainable projects and providing flexible financial solutions to meet evolving industry needs.
Financially, Atlantic Union Bankshares Corporation is well-positioned with strong liquidity and a solid capital base. The company's strategic initiatives and partnerships reflect its ongoing commitment to growth and service excellence in the financial sector.
Atlantic Union Bankshares Corporation has appointed Rilla Delorier to its Board of Directors, effective immediately. Delorier brings extensive experience from her roles at Umpqua Bank and SunTrust Bank, where she specialized in strategic planning and digital transformation. Her appointment is expected to enhance the bank's customer-centric culture and innovation. With 114 branches across Virginia and parts of Maryland and North Carolina, Atlantic Union Bank aims to continue its growth as a leading regional bank.
Atlantic Union Bankshares Corporation is set to become a strategic investor in Cary Street Partners by acquiring Dixon, Hubard, Feinour & Brown, Inc. (DHFB), a Virginia-based wealth management firm managing approximately
The Board of Directors of Atlantic Union Bankshares Corporation (AUB) has announced a quarterly dividend of $0.28 per share, consistent with previous quarters. This dividend, with a yield of approximately 3.2% based on a stock price of $34.47, will be payable on June 3, 2022, to shareholders on record by May 20, 2022. Additionally, a dividend of $171.88 per share on Series A preferred stock, equating to $0.43 per depositary share, will be paid on June 1, 2022, with a record date of May 17, 2022.
Atlantic Union Bank has appointed Clare Miller as the new Chief Human Resources Officer, effective late May 2022. With over 20 years of experience in human resources, Miller previously held the role of Chief Talent Officer at Huntington National Bank, where she led a team responsible for talent management and organizational effectiveness. Her leadership contributed to Huntington receiving the 2022 Forbes Best Large Employer Award. Miller holds a bachelor’s degree in organizational communications from Ohio University and has various HR certifications.
Atlantic Union Bankshares Corporation (Nasdaq: AUB) reported a net income of $40.7 million for Q1 2022, with earnings per share at $0.54. Adjusted operating earnings reached $45.1 million, while net interest income decreased to $130.9 million, down from $138.3 million in Q4 2021. The company implemented strategic expense reductions and consolidated operations, resulting in lower restructuring costs. Throughout Q1, nonperforming assets remained low at 0.23%. The share repurchase program saw approximately 630,000 shares repurchased for $25 million.
Atlantic Union Bankshares Corporation announced an investor day to be held on May 9, 2022, at 11:00 a.m. ET in New York City. The event will feature presentations by President and CEO John Asbury, CFO Rob Gorman, and COO Maria Tedesco, focusing on the Company's strategic priorities.
Attendees can join in-person at Nasdaq MarketSite or virtually via webcast. Pre-registration is required, and in-person attendees must follow COVID-19 safety protocols.
Atlantic Union Bankshares Corporation (AUB) has scheduled its first quarter 2022 financial results release for April 21, 2022, before market opening. The release will be followed by a conference call and webcast at 9:00 a.m. Eastern Time on the same day. Analysts can participate via a toll-free number or through international dialing options. A replay of the webcast and slides will be accessible on the company’s website for 90 days after the event.
KBRA has published its Fourth-Quarter 2021 U.S. Bank Compendium, offering insights into the U.S. banking sector's performance and credit metrics for the quarter. The report includes analyses of actions by larger banks regarding overdraft fees and features a quarterly ESG Bulletin. Notable highlights include summaries of publicly traded U.S. banks, key performance metrics, and data on top deposit franchises. Atlantic Union Bankshares Corporation (NASDAQ: AUB) is rated BBB+ with a positive outlook. For detailed insights, the full report is accessible online.
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.
FAQ
What is the current stock price of Atlantic Union Bankshares Corporation (AUB)?
What is the market cap of Atlantic Union Bankshares Corporation (AUB)?
What services does Atlantic Union Bank offer?
Where is Atlantic Union Bank headquartered?
How extensive is Atlantic Union Bank's branch network?
Who are the non-bank affiliates of Atlantic Union Bank?
What are the main business segments of Atlantic Union Bank?
What recent partnerships has Atlantic Union Bank engaged in?
What is Atlantic Union Bank's stock symbol?
Does Atlantic Union Bank provide mortgage services?
What is the significance of Atlantic Union Bank in Virginia?
What type of financial institution is Atlantic Union Bank?
