Analysts Set Expectations for United Community Banks, Inc.’s Q3 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – DA Davidson issued their Q3 2024 earnings estimates for shares of United Community Banks in a research report issued on Friday, July 26th. DA Davidson analyst G. Tenner expects that the financial services provider will post earnings per share of $0.61 for the quarter. DA Davidson currently has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.22 per share. DA Davidson also issued estimates for United Community Banks’ FY2024 earnings at $2.31 EPS.

Several other analysts also recently commented on UCBI. Keefe, Bruyette & Woods increased their price objective on shares of United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Truist Financial raised their price target on United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Piper Sandler cut their target price on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com upgraded United Community Banks from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.50.

United Community Banks Price Performance

Shares of NASDAQ:UCBI opened at $31.07 on Monday. The business has a fifty day moving average price of $26.33 and a 200-day moving average price of $26.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.79. The company has a market capitalization of $3.70 billion, a PE ratio of 20.18 and a beta of 0.91. United Community Banks has a 1-year low of $21.63 and a 1-year high of $31.96.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The firm had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $238.95 million. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year.

Hedge Funds Weigh In On United Community Banks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $72,000. Innealta Capital LLC bought a new position in shares of United Community Banks in the 2nd quarter worth $85,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $115,000. FinTrust Capital Advisors LLC grew its holdings in United Community Banks by 12.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 500 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after buying an additional 5,568 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.96%. United Community Banks’s payout ratio is 59.74%.

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.