Brokerages Expect United Community Banks, Inc. (NASDAQ:UCBI) to Post $0.40 Earnings Per Share
Brokerages predict that United Community Banks, Inc. (NASDAQ:UCBI) will announce earnings of $0.40 per share for the current quarter, Zacks reports. Three analysts have issued estimates for United Community Banks’ earnings. United Community Banks posted earnings per share of $0.39 in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that United Community Banks will report full-year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.55 to $1.62. For the next fiscal year, analysts forecast that the business will report earnings of $1.83 per share, with EPS estimates ranging from $1.80 to $1.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow United Community Banks.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $108 million for the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS.
Several equities research analysts recently commented on the company. BidaskClub cut United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Raymond James Financial, Inc. dropped their target price on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 27th. Stephens reissued a “hold” rating and set a $29.00 target price on shares of United Community Banks in a report on Wednesday, July 26th. Zacks Investment Research cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.67.
In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the transaction, the executive vice president now owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.18% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in United Community Banks by 20,108.8% in the first quarter. BlackRock Inc. now owns 9,233,176 shares of the financial services provider’s stock valued at $255,666,000 after buying an additional 9,187,487 shares during the period. Vanguard Group Inc. raised its position in United Community Banks by 1.7% in the second quarter. Vanguard Group Inc. now owns 6,212,727 shares of the financial services provider’s stock valued at $172,714,000 after buying an additional 100,870 shares during the period. State Street Corp raised its position in United Community Banks by 53.8% in the first quarter. State Street Corp now owns 3,289,230 shares of the financial services provider’s stock valued at $91,081,000 after buying an additional 1,151,048 shares during the period. Dimensional Fund Advisors LP raised its position in United Community Banks by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,231,787 shares of the financial services provider’s stock valued at $89,845,000 after buying an additional 65,612 shares during the period. Finally, Schroder Investment Management Group raised its position in United Community Banks by 14.0% in the second quarter. Schroder Investment Management Group now owns 2,255,122 shares of the financial services provider’s stock valued at $63,076,000 after buying an additional 276,341 shares during the period. Hedge funds and other institutional investors own 94.06% of the company’s stock.
United Community Banks (NASDAQ UCBI) traded up 3.14% during midday trading on Monday, hitting $26.61. The company had a trading volume of 252,797 shares. United Community Banks has a 12-month low of $19.49 and a 12-month high of $30.47. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 18.23 and a beta of 0.88. The company’s 50 day moving average is $27.76 and its 200 day moving average is $27.68.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be given a $0.10 dividend. This is a positive change from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, September 14th. This represents a $0.40 annualized dividend and a yield of 1.50%. United Community Banks’s payout ratio is 24.66%.
About United Community Banks
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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