United Community Banks (NASDAQ:UCBI) Issues Quarterly Earnings Results

United Community Banks (NASDAQ:UCBI) released its quarterly earnings results on Wednesday. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02, Briefing.com reports. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The company had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year.

United Community Banks Stock Performance

United Community Banks stock traded down $0.71 during mid-day trading on Thursday, hitting $25.62. 52,141 shares of the company’s stock traded hands, compared to its average volume of 640,261. The firm has a 50 day moving average price of $25.63 and a 200 day moving average price of $26.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.05 billion, a PE ratio of 16.99 and a beta of 0.94. United Community Banks has a one year low of $20.37 and a one year high of $30.75.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 59.36%.

Analyst Ratings Changes

UCBI has been the topic of a number of analyst reports. Piper Sandler decreased their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday. TheStreet downgraded United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. StockNews.com raised United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Truist Financial lowered their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, DA Davidson reissued a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, United Community Banks currently has an average rating of “Hold” and a consensus price target of $30.60.

United Community Banks Company Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.