United Community Banks (NYSE:UCB) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

United Community Banks (NYSE:UCB - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04, Zacks reports. The firm had revenue of $260.24 million for the quarter, compared to analysts' expectations of $261.65 million. United Community Banks had a net margin of 17.93% and a return on equity of 8.91%.

United Community Banks Stock Performance

Shares of NYSE:UCB traded up $0.18 during trading hours on Friday, hitting $31.55. 805,838 shares of the company's stock traded hands, compared to its average volume of 667,530. United Community Banks has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 14.34 and a beta of 0.78.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James Financial cut shares of United Community Banks from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of United Community Banks from a "sell" rating to a "hold" rating in a research report on Saturday.

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.