United Community Banks (NASDAQ:UCBI) Announces Earnings Results, Beats Expectations By $0.07 EPS

United Community Banks (NASDAQ:UCBI) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07, Briefing.com reports. The business had revenue of $347.00 million during the quarter, compared to the consensus estimate of $238.95 million. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. United Community Banks’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share.

United Community Banks Stock Up 0.6 %

UCBI traded up $0.20 during midday trading on Friday, hitting $31.38. The company had a trading volume of 182,831 shares, compared to its average volume of 588,914. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 20.45 and a beta of 0.91. The stock’s 50 day moving average price is $26.08 and its 200 day moving average price is $26.34. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. United Community Banks has a 52 week low of $21.63 and a 52 week high of $31.96.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 14th. United Community Banks’s payout ratio is 59.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UCBI shares. Keefe, Bruyette & Woods increased their price target on United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Sandler dropped their target price 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, April 25th. DA Davidson increased their price target on United Community Banks from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial lifted their price objective on United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, United Community Banks currently has a consensus rating of “Hold” and an average price target of $31.50.

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.