United Community Banks (NASDAQ:UCB) Announces Quarterly Earnings Results

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

United Community Banks Trading Up 2.3 %

UCB opened at $33.35 on Wednesday. United Community Banks has a 1-year low of $24.04 and a 1-year high of $35.38. The firm has a fifty day simple moving average of $32.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.98 billion, a PE ratio of 14.82 and a beta of 0.93.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 16th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Monday, December 16th. United Community Banks’s dividend payout ratio (DPR) is presently 62.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UCB shares. Raymond James upgraded 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. Truist Financial dropped their price objective on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler dropped 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.

Insider Activity at United Community Banks

In other United Community Banks news, CFO Jefferson L. Harralson sold 10,275 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.76, for a total value of $285,234.00. Following the transaction, the chief financial officer now directly owns 43,991 shares of the company’s stock, valued at $1,221,190.16. This represents a 18.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

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.