United Community Banks (NASDAQ:UCBI) Announces Earnings Results

United Community Banks (NASDAQ:UCBI) released its quarterly earnings data on Wednesday. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.07, Briefing.com reports. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The business had revenue of $347.00 million during the quarter, compared to analysts’ expectations of $238.95 million. During the same quarter last year, the business posted $0.55 EPS. The business’s revenue was up 17.3% on a year-over-year basis.

United Community Banks Trading Up 3.8 %

NASDAQ:UCBI opened at $31.18 on Friday. The company’s 50 day moving average price is $26.08 and its 200-day moving average price is $26.34. United Community Banks has a 52 week low of $21.63 and a 52 week high of $31.57. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 20.25 and a beta of 0.91.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were issued a $0.23 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 2.95%. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. DA Davidson raised their price target on United Community Banks from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial raised their target price on United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Piper Sandler dropped their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods increased their price objective on United Community Banks from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, StockNews.com upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

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.