United Community Banks (NASDAQ:UCBI) Announces Earnings Results

United Community Banks (NASDAQ:UCBI) announced 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 firm had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS.

United Community Banks Price Performance

NASDAQ:UCBI traded down $0.70 during trading hours on Thursday, hitting $25.63. 121,020 shares of the stock traded hands, compared to its average volume of 641,144. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 16.50 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks has a 1 year low of $20.37 and a 1 year high of $30.75. The stock has a 50 day moving average price of $25.63 and a 200 day moving average price of $26.22.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.59%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio is currently 59.36%.

Wall Street Analyst Weigh In

UCBI has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Truist Financial dropped their price objective on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 1st. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Finally, DA Davidson reissued a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, United Community Banks presently has a consensus rating of “Hold” and an average price target of $30.60.

United Community Banks Company Profile

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.