United Community Banks, Inc. (NASDAQ:UCBI) Expected to Post Earnings of $0.40 Per Share

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%.

TRADEMARK VIOLATION NOTICE: This story was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.com-unik.info/2017/08/19/united-community-banks-inc-nasdaqucbi-expected-to-post-earnings-of-0-40-per-share-updated-updated.html.

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.

Get a free copy of the Zacks research report on United Community Banks (UCBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

What are top analysts saying about United Community Banks Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for United Community Banks Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit