Equities research analysts forecast that United Community Banks, Inc. (NASDAQ:UCBI) will announce earnings per share (EPS) of $0.40 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Community Banks’ earnings. United Community Banks posted earnings of $0.39 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.6%. The firm is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that United Community Banks will report full-year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.55 to $1.62. For the next financial year, analysts forecast that the firm will report earnings of $1.83 per share, with EPS estimates ranging from $1.80 to $1.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover United Community Banks.
United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The company had revenue of $108 million for the quarter, compared to the consensus estimate of $110.49 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.
UCBI has been the topic of several research analyst reports. Zacks Investment Research downgraded United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Keefe, Bruyette & Woods set a $30.00 price objective on United Community Banks and gave the company a “hold” rating in a report on Monday, April 10th. Raymond James Financial, Inc. cut their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 27th. BidaskClub downgraded United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Stephens reiterated a “hold” rating and issued a $29.00 price objective on shares of United Community Banks in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.67.
Shares of United Community Banks (NASDAQ UCBI) traded up 0.61% during midday trading on Thursday, reaching $27.93. The company had a trading volume of 173,892 shares. The company has a market capitalization of $1.98 billion, a P/E ratio of 19.67 and a beta of 0.88. United Community Banks has a 52 week low of $18.78 and a 52 week high of $30.47. The company’s 50 day moving average price is $27.88 and its 200-day moving average price is $27.72.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.29%. This is a boost from United Community Banks’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, June 13th. United Community Banks’s payout ratio is presently 24.66%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC bought a new position in United Community Banks during the first quarter valued at approximately $101,000. Cypress Capital Management LLC WY bought a new position in United Community Banks during the first quarter valued at approximately $122,000. Glen Harbor Capital Management LLC bought a new position in United Community Banks during the first quarter valued at approximately $122,000. LS Investment Advisors LLC boosted its position in United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock valued at $138,000 after buying an additional 2,355 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in United Community Banks during the first quarter valued at approximately $168,000. 94.42% of the stock is owned by hedge funds and other institutional investors.
About United Community Banks
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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