United Community Banks (NASDAQ:UCBI) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

United Community Banks (NASDAQ:UCBI) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02, Briefing.com reports. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The company had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $232.00 million. During the same period last year, the business earned $0.58 earnings per share. United Community Banks’s quarterly revenue was down 6.6% on a year-over-year basis.

United Community Banks Stock Performance

NASDAQ:UCBI traded up $0.21 during mid-day trading on Friday, reaching $26.03. 73,327 shares of the stock were exchanged, compared to its average volume of 638,474. The company has a 50 day simple moving average of $25.59 and a 200-day simple moving average of $26.22. The stock has a market capitalization of $3.10 billion, a P/E ratio of 16.77 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 has a 1 year low of $20.37 and a 1 year high of $30.75.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.53%. United Community Banks’s dividend payout ratio is presently 59.74%.

Analysts Set New Price Targets

UCBI has been the topic of several research analyst reports. Piper Sandler dropped their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. DA Davidson reaffirmed a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. StockNews.com raised United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Finally, Truist Financial lowered their price target on 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently 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.