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

United Community Banks (NASDAQ:UCBI) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07, Briefing.com reports. The firm 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%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS.

United Community Banks Stock Up 3.8 %

United Community Banks stock opened at $31.18 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.80. United Community Banks has a one year low of $21.63 and a one year high of $31.57. The company has a 50-day simple moving average of $26.08 and a 200-day simple moving average of $26.34. The firm has a market capitalization of $3.71 billion, a P/E ratio of 20.25 and a beta of 0.91.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, June 14th. United Community Banks’s dividend payout ratio (DPR) is 59.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UCBI shares. StockNews.com raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Thursday. Truist Financial boosted their target price on shares of United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Sandler reduced 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 research report on Thursday, April 25th. DA Davidson boosted their price objective on United Community Banks from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.