United Community Banks, Inc. (NASDAQ:UCBI - Free Report) - Investment analysts at DA Davidson dropped their Q1 2024 earnings per share (EPS) estimates for United Community Banks in a research note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.53. DA Davidson currently has a "Buy" rating on the stock. The consensus estimate for United Community Banks' current full-year earnings is $2.19 per share. DA Davidson also issued estimates for United Community Banks' FY2025 earnings at $2.44 EPS.
United Community Banks (NASDAQ:UCBI - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The business had revenue of $165.70 million during the quarter, compared to analysts' expectations of $226.07 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm's revenue for the quarter was down 25.8% compared to the same quarter last year.
Several other brokerages have also recently weighed in on UCBI. TheStreet cut United Community Banks from a "b" rating to a "c+" rating in a report on Wednesday, January 24th. Truist Financial dropped their price objective on United Community Banks from $31.00 to $28.00 and set a "hold" rating for the company in a report on Monday, April 1st. StockNews.com raised United Community Banks to a "sell" rating in a report on Wednesday, January 17th. Finally, Piper Sandler boosted their price objective on United Community Banks from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.00.
Check Out Our Latest Stock Report on UCBI
United Community Banks Price Performance
Shares of United Community Banks stock traded up $0.13 during trading on Thursday, reaching $24.70. The company's stock had a trading volume of 476,414 shares, compared to its average volume of 645,798. The stock has a market capitalization of $2.94 billion, a P/E ratio of 15.85 and a beta of 0.94. United Community Banks has a one year low of $20.37 and a one year high of $30.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $25.77 and a two-hundred day moving average price of $26.20.
United Community Banks Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.72%. United Community Banks's payout ratio is currently 59.36%.
Hedge Funds Weigh In On United Community Banks
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of United Community Banks by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider's stock valued at $337,412,000 after purchasing an additional 245,944 shares during the period. Great Lakes Advisors LLC grew its position in shares of United Community Banks by 12.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider's stock valued at $4,362,000 after purchasing an additional 18,622 shares during the period. Blair William & Co. IL acquired a new position in shares of United Community Banks in the 3rd quarter valued at approximately $5,501,000. Sequoia Financial Advisors LLC grew its position in shares of United Community Banks by 12.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 1,128 shares during the period. Finally, Northern Trust Corp grew its position in shares of United Community Banks by 21.4% in the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider's stock valued at $48,633,000 after purchasing an additional 337,102 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.
About United Community Banks
(
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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.
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