United Community Banks, Inc. Expected to Earn Q1 2018 Earnings of $0.42 Per Share (UCBI)
United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at SunTrust Banks reduced their Q1 2018 earnings per share (EPS) estimates for shares of United Community Banks in a report issued on Wednesday. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will earn $0.42 per share for the quarter, down from their prior forecast of $0.43.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The firm had revenue of $108 million during the quarter, compared to the consensus estimate of $110.49 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “United Community Banks, Inc. Expected to Earn Q1 2018 Earnings of $0.42 Per Share (UCBI)” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.thecerbatgem.com/2017/08/10/united-community-banks-inc-expected-to-earn-q1-2018-earnings-of-0-42-per-share-ucbi-updated.html.
UCBI has been the subject of a number of other research reports. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. UBS AG raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. cut their target price on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday. Finally, Stephens reissued a “hold” rating and set a $30.00 target price on shares of United Community Banks in a research note on Tuesday, June 27th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $30.67.
United Community Banks (NASDAQ UCBI) opened at 27.59 on Monday. The company has a market cap of $1.96 billion, a P/E ratio of 18.90 and a beta of 0.88. The company has a 50 day moving average of $27.88 and a 200-day moving average of $27.75. United Community Banks has a one year low of $18.78 and a one year high of $30.47.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.30%. United Community Banks’s payout ratio is presently 24.66%.
A number of institutional investors have recently bought and sold shares of UCBI. Meadow Creek Investment Management LLC purchased a new position in shares of United Community Banks during the first quarter valued at about $101,000. Glen Harbor Capital Management LLC purchased a new position in shares of United Community Banks during the first quarter valued at about $122,000. Cypress Capital Management LLC WY purchased a new position in shares of United Community Banks during the first quarter valued at about $122,000. LS Investment Advisors LLC raised its position in shares of 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. purchased a new position in shares of United Community Banks during the first quarter valued at about $168,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.
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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