United Community Banks, Inc. (NASDAQ:UCBI) Declares $0.23 Quarterly Dividend

United Community Banks, Inc. (NASDAQ:UCBI - Get Free Report) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Saturday, June 15th will be given a dividend of 0.23 per share by the financial services provider on Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, June 14th.

United Community Banks has raised its dividend by an average of 8.5% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. United Community Banks has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Community Banks to earn $2.38 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 38.7%.

United Community Banks Price Performance

Shares of NASDAQ UCBI traded up $0.11 during midday trading on Friday, reaching $26.96. 443,804 shares of the stock traded hands, compared to its average volume of 437,198. The company's 50 day moving average is $25.65 and its 200 day moving average is $26.47. United Community Banks has a one year low of $21.63 and a one year high of $30.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $3.21 billion, a PE ratio of 17.51 and a beta of 0.92.

United Community Banks (NASDAQ:UCBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The business had revenue of $225.80 million during the quarter, compared to analyst estimates of $232.00 million. During the same quarter last year, the business earned $0.58 earnings per share. United Community Banks's quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that United Community Banks will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

UCBI has been the topic of several analyst reports. TheStreet cut United Community Banks from a "b" rating to a "c+" rating in a research note on Wednesday, January 24th. Truist Financial cut their target price on United Community Banks from $31.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 1st. Finally, Piper Sandler lowered 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, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.