United Community Banks (NASDAQ:UCB) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

United Community Banks (NASDAQ:UCB) released its quarterly earnings data on Wednesday. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05, Briefing.com reports. The business had revenue of $239.50 million for the quarter, compared to analyst estimates of $243.01 million. United Community Banks had a return on equity of 8.36% and a net margin of 13.04%. The firm’s revenue for the quarter was up 44.5% compared to the same quarter last year.

United Community Banks Trading Up 2.3 %

United Community Banks stock opened at $33.35 on Wednesday. United Community Banks has a 12 month low of $24.04 and a 12 month high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.98 billion, a P/E ratio of 14.82 and a beta of 0.93. The company has a 50-day moving average price of $32.64.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 16th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.96 annualized dividend and a yield of 2.88%. United Community Banks’s dividend payout ratio is presently 62.34%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on UCB shares. Piper Sandler reduced their price objective on United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Thursday, December 19th. Finally, Truist Financial dropped their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, October 25th.

Insider Transactions at United Community Banks

In other news, CFO Jefferson L. Harralson sold 10,275 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.76, for a total transaction of $285,234.00. Following the completion of the transaction, the chief financial officer now directly owns 43,991 shares in the company, valued at $1,221,190.16. This trade represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

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.