United Community Banks, Inc. (NASDAQ:UCBI) Expected to Post Earnings of $0.58 Per Share

Equities research analysts expect that United Community Banks, Inc. (NASDAQ:UCBI) will post earnings of $0.58 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for United Community Banks’ earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.57. United Community Banks reported earnings per share of $0.55 in the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 22nd.

According to Zacks, analysts expect that United Community Banks will report full-year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.27 to $2.32. For the next year, analysts anticipate that the business will post earnings of $2.27 per share, with EPS estimates ranging from $2.22 to $2.33. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover United Community Banks.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $142.32 million for the quarter, compared to analyst estimates of $142.30 million. United Community Banks had a return on equity of 12.24% and a net margin of 27.88%. During the same period last year, the firm posted $0.53 earnings per share.

Several analysts recently weighed in on UCBI shares. ValuEngine lowered United Community Banks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a research note on Friday, September 27th. BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. DA Davidson started coverage on United Community Banks in a research note on Tuesday, August 20th. They issued a “neutral” rating on the stock. Finally, SunTrust Banks reduced their price objective on United Community Banks from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.40.

In other news, CAO Alan H. Kumler sold 3,000 shares of United Community Banks stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $28.00, for a total transaction of $84,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 7,684 shares of company stock worth $214,150 over the last three months. Insiders own 1.18% of the company’s stock.

Several hedge funds have recently made changes to their positions in UCBI. Nuveen Asset Management LLC acquired a new stake in shares of United Community Banks during the second quarter valued at about $34,944,000. FMR LLC boosted its stake in shares of United Community Banks by 66.4% during the first quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after purchasing an additional 1,125,516 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of United Community Banks during the second quarter valued at about $31,396,000. Morgan Stanley boosted its stake in shares of United Community Banks by 200.2% during the second quarter. Morgan Stanley now owns 348,724 shares of the financial services provider’s stock valued at $9,960,000 after purchasing an additional 232,570 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of United Community Banks by 10.5% during the second quarter. Janus Henderson Group PLC now owns 1,839,743 shares of the financial services provider’s stock valued at $52,543,000 after purchasing an additional 175,070 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:UCBI traded up $0.28 during trading hours on Friday, hitting $28.83. The company’s stock had a trading volume of 383,819 shares, compared to its average volume of 403,064. The stock has a fifty day simple moving average of $27.55 and a 200-day simple moving average of $27.42. The company has a market capitalization of $2.26 billion, a P/E ratio of 12.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.84. United Community Banks has a twelve month low of $20.23 and a twelve month high of $29.79.

The company also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, September 12th. United Community Banks’s payout ratio is 31.78%.

About United Community Banks

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Earnings History and Estimates for United Community Banks (NASDAQ:UCBI)

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