United Community Banks, Inc. Plans Quarterly Dividend of $0.23 (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBIGet Free Report) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Investors of record on Saturday, June 15th will be paid a dividend of 0.23 per share by the financial services provider on Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, June 14th.

United Community Banks has increased its dividend by an average of 8.5% per year over the last three years and has raised its dividend every year for the last 9 years. United Community Banks has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Community Banks to earn $2.38 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 38.7%.

United Community Banks Trading Up 0.4 %

NASDAQ:UCBI opened at $26.96 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 17.51 and a beta of 0.92. United Community Banks has a 52 week low of $21.63 and a 52 week high of $30.75. The firm has a 50 day moving average of $25.64 and a 200 day moving average of $26.44.

United Community Banks (NASDAQ:UCBIGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $225.80 million for 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 company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts anticipate that United Community Banks will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

UCBI has been the topic of a number of research analyst reports. 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. Piper Sandler decreased their target price on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.60.

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About United Community Banks

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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.

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Dividend History for United Community Banks (NASDAQ:UCBI)

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