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

United Community Banks (NASDAQ:UCBI) issued 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. The company had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share.

United Community Banks Price Performance

NASDAQ:UCBI traded up $0.21 during trading hours on Friday, hitting $26.03. 73,327 shares of the company’s stock traded hands, compared to its average volume of 638,474. The firm has a market cap of $3.10 billion, a P/E ratio of 16.77 and a beta of 0.94. United Community Banks has a 52 week low of $20.37 and a 52 week high of $30.75. The business’s fifty day simple moving average is $25.59 and its two-hundred day simple moving average is $26.22. 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 Dividend Announcement

The firm also recently disclosed 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. This represents a $0.92 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio is 59.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on UCBI shares. StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Truist Financial reduced their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Piper Sandler reduced their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.60.

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.