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

United Community Banks (NASDAQ:UCBI) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02, Briefing.com reports. The company had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share.

United Community Banks Price Performance

Shares of NASDAQ UCBI traded up $0.24 during mid-day trading on Friday, reaching $26.06. The company’s stock had a trading volume of 78,014 shares, compared to its average volume of 638,551. The stock has a 50-day moving average of $25.59 and a two-hundred day moving average of $26.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $3.10 billion, a P/E ratio of 16.77 and a beta of 0.94. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.53%. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

Analysts Set New Price Targets

Several analysts recently commented on UCBI shares. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Truist Financial reduced their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. Piper Sandler dropped their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson reaffirmed a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. Finally, TheStreet cut shares of United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.60.

About United Community Banks

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.