Research Analysts Offer Predictions for United Community Banks, Inc.’s Q2 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of United Community Banks in a note issued to investors on Friday, April 26th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings per share of $0.53 for the quarter. DA Davidson currently has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.09 per share. DA Davidson also issued estimates for United Community Banks’ FY2024 earnings at $2.17 EPS and FY2025 earnings at $2.41 EPS.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Finally, Truist Financial lowered their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.60.

United Community Banks Trading Down 1.6 %

Shares of NASDAQ:UCBI opened at $25.23 on Monday. The company has a market cap of $3.00 billion, a P/E ratio of 16.38 and a beta of 0.94. The stock’s 50-day moving average is $25.51 and its 200-day moving average is $26.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. United Community Banks has a 52-week low of $20.37 and a 52-week high of $30.75.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The company had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. During the same quarter in the prior year, the company posted $0.58 EPS. The firm’s revenue was down 6.6% on a year-over-year basis.

Institutional Trading of United Community Banks

Several hedge funds have recently modified their holdings of UCBI. Carmel Capital Partners LLC bought a new stake in shares of United Community Banks during the third quarter valued at approximately $36,000. GAMMA Investing LLC bought a new position in shares of United Community Banks in the 4th quarter valued at about $72,000. SG Americas Securities LLC bought a new position in United Community Banks in the fourth quarter valued at approximately $115,000. FinTrust Capital Advisors LLC grew its holdings in United Community Banks by 12.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 500 shares during the period. Finally, TFO Wealth Partners LLC raised its position in shares of United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 5,568 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s payout ratio is 59.74%.

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.