United Community Banks (NASDAQ:UCB) Announces Earnings Results, Misses Expectations By $0.01 EPS

United Community Banks (NASDAQ:UCB) posted its earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01), Briefing.com reports. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. During the same quarter in the prior year, the business posted $0.45 earnings per share.

United Community Banks Stock Down 1.0 %

Shares of UCB stock traded down $0.28 during trading on Thursday, hitting $27.92. The company had a trading volume of 38,886 shares, compared to its average volume of 566,430. United Community Banks has a 52 week low of $21.63 and a 52 week high of $31.96. The firm has a market cap of $3.33 billion, a PE ratio of 18.14 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 business’s 50-day simple moving average is $29.02.

United Community Banks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from United Community Banks’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, September 16th. United Community Banks’s dividend payout ratio is presently 61.94%.

Analyst Upgrades and Downgrades

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

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.