Wall Street brokerages forecast that United Community Banks, Inc. (NASDAQ:UCBI) will announce $143.27 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Community Banks’ earnings, with the lowest sales estimate coming in at $142.80 million and the highest estimate coming in at $143.80 million. United Community Banks posted sales of $136.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that United Community Banks will report full year sales of $564.57 million for the current year, with estimates ranging from $564.10 million to $565.50 million. For the next year, analysts forecast that the business will post sales of $584.70 million, with estimates ranging from $579.10 million to $591.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow 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 (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. United Community Banks had a net margin of 27.88% and a return on equity of 12.24%. The company had revenue of $142.32 million during the quarter, compared to analyst estimates of $142.30 million. During the same quarter in the prior year, the business earned $0.53 earnings per share.
Shares of United Community Banks stock traded down $0.95 during trading hours on Wednesday, hitting $25.93. The company’s stock had a trading volume of 311,400 shares, compared to its average volume of 443,363. United Community Banks has a 1-year low of $20.23 and a 1-year high of $31.71. The firm has a fifty day moving average price of $27.93. The firm has a market cap of $2.15 billion, a P/E ratio of 12.12 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 12th. United Community Banks’s payout ratio is currently 31.78%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in shares of United Community Banks in the 2nd quarter worth approximately $2,686,000. Cubist Systematic Strategies LLC grew its stake in shares of United Community Banks by 6.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 24,292 shares of the financial services provider’s stock worth $694,000 after purchasing an additional 1,428 shares during the last quarter. Morgan Stanley grew its stake in shares of United Community Banks by 200.2% in the 2nd quarter. Morgan Stanley now owns 348,724 shares of the financial services provider’s stock worth $9,960,000 after purchasing an additional 232,570 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of United Community Banks in the 2nd quarter worth approximately $234,000. Finally, Man Group plc grew its stake in shares of United Community Banks by 140.0% in the 2nd quarter. Man Group plc now owns 86,953 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 50,726 shares during the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.
United Community Banks Company Profile
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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