United Community Banks (NASDAQ:UCBI) Posts Earnings Results, Beats Expectations By $0.02 EPS

United Community Banks (NASDAQ:UCBI) posted its earnings results on Wednesday. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, Briefing.com reports. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The company had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. During the same quarter in the prior year, the business posted $0.58 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year.

United Community Banks Trading Down 2.4 %

UCBI traded down $0.62 on Thursday, reaching $25.71. 126,086 shares of the company traded hands, compared to its average volume of 641,209. United Community Banks has a one year low of $20.37 and a one year high of $30.75. The firm has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $26.22. The company has a market cap of $3.06 billion, a P/E ratio of 16.50 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.58%. United Community Banks’s payout ratio is 59.36%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UCBI shares. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Truist Financial dropped their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. Finally, 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 research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, United Community Banks currently has an average rating of “Hold” and an average target price of $30.60.

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.