Zacks: Analysts Expect United Community Banks, Inc. (UCBI) Will Announce Quarterly Sales of $135.63 Million

Equities research analysts expect United Community Banks, Inc. (NASDAQ:UCBI) to announce $135.63 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for United Community Banks’ earnings, with the highest sales estimate coming in at $136.00 million and the lowest estimate coming in at $135.20 million. United Community Banks reported sales of $110.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.9%. The company is scheduled to announce its next earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that United Community Banks will report full year sales of $531.07 million for the current financial year, with estimates ranging from $530.30 million to $531.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $571.27 million per share, with estimates ranging from $563.20 million to $578.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for United Community Banks.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The firm had revenue of $130.02 million for the quarter, compared to the consensus estimate of $133.24 million. United Community Banks had a net margin of 17.42% and a return on equity of 10.99%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share.

A number of analysts have issued reports on the stock. Hovde Group set a $34.00 price target on shares of United Community Banks and gave the company a “buy” rating in a report on Monday, July 30th. BidaskClub downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Finally, SunTrust Banks downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. United Community Banks has a consensus rating of “Hold” and an average target price of $32.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its holdings in shares of United Community Banks by 740.6% in the 2nd quarter. Citadel Advisors LLC now owns 201,691 shares of the financial services provider’s stock worth $6,186,000 after buying an additional 177,698 shares during the last quarter. FMR LLC increased its holdings in shares of United Community Banks by 27.9% in the 2nd quarter. FMR LLC now owns 2,258,564 shares of the financial services provider’s stock worth $69,271,000 after buying an additional 492,017 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of United Community Banks by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 161,249 shares of the financial services provider’s stock worth $4,973,000 after buying an additional 8,706 shares during the last quarter. BlackRock Inc. increased its holdings in shares of United Community Banks by 7.6% in the 2nd quarter. BlackRock Inc. now owns 11,676,225 shares of the financial services provider’s stock worth $358,110,000 after buying an additional 823,876 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in shares of United Community Banks by 5.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 60,144 shares of the financial services provider’s stock worth $1,844,000 after buying an additional 2,879 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

United Community Banks traded down $0.09, reaching $30.68, on Friday, according to MarketBeat. The company had a trading volume of 272,944 shares, compared to its average volume of 462,389. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $2.43 billion, a P/E ratio of 18.82 and a beta of 0.83. United Community Banks has a 12 month low of $24.47 and a 12 month high of $34.18.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Saturday, September 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.96%. United Community Banks’s dividend payout ratio is currently 36.81%.

United Community Banks Company Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Earnings History and Estimates for United Community Banks (NASDAQ:UCBI)

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