United Community Banks (NASDAQ:UCB) Shares Gap Down – Time to Sell?

United Community Banks, Inc. (NASDAQ:UCB)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $28.67, but opened at $26.19. United Community Banks shares last traded at $27.82, with a volume of 59,127 shares.

Analyst Ratings Changes

Separately, Truist Financial increased their price target on United Community Banks from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, September 20th.

United Community Banks Trading Down 2.2 %

The stock has a market cap of $3.34 billion, a P/E ratio of 18.50 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $29.02.

United Community Banks (NASDAQ:UCB) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.58 EPS for the quarter, beating 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 company had revenue of $245.26 million during the quarter, compared to analysts’ expectations of $237.80 million. On average, research analysts predict that United Community Banks, Inc. will post 2.25 EPS for the current year.

United Community Banks Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were given a dividend of $0.24 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, September 16th. United Community Banks’s dividend payout ratio (DPR) is currently 61.94%.

About United Community Banks

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.