United Community Banks, Inc. (UCBI) Declares Dividend Increase – $0.10 Per Share
United Community Banks, Inc. (NASDAQ:UCBI) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Friday, September 15th will be given a dividend of 0.10 per share by the financial services provider on Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, September 14th. This is an increase from United Community Banks’s previous quarterly dividend of $0.09.
United Community Banks (NASDAQ:UCBI) traded down 1.80% during midday trading on Wednesday, reaching $26.77. 394,183 shares of the company traded hands. United Community Banks has a 12 month low of $19.49 and a 12 month high of $30.47. The firm has a market capitalization of $1.90 billion, a PE ratio of 18.34 and a beta of 0.88. The company’s 50-day moving average price is $27.87 and its 200 day moving average price is $27.72.
United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The firm had revenue of $108 million during the quarter, compared to the consensus estimate of $110.49 million. During the same quarter in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that United Community Banks will post $1.63 earnings per share for the current year.
Several brokerages recently weighed in on UCBI. UBS AG raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. BidaskClub downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stephens reaffirmed a “hold” rating and set a $30.00 price objective on shares of United Community Banks in a research note on Tuesday, June 27th. Finally, ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks has a consensus rating of “Buy” and an average price target of $30.67.
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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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