United Community Banks (NASDAQ:UCBI) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

United Community Banks Stock Up 0.8 %

NASDAQ:UCBI traded up $0.20 during midday trading on Friday, reaching $26.02. The company had a trading volume of 107,022 shares, compared to its average volume of 638,865. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.90 and a beta of 0.94. The stock’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $26.22. United Community Banks has a 12-month low of $20.37 and a 12-month high of $30.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.54%. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

Analyst Ratings Changes

UCBI has been the topic of a number of recent analyst reports. Truist Financial decreased their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 1st. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Piper Sandler decreased 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. Finally, StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, United Community Banks currently has an average rating of “Hold” and an average 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.