United Community Banks (NASDAQ:UCBI) Announces Earnings Results, Beats Estimates By $0.07 EPS

United Community Banks (NASDAQ:UCBI) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07, Briefing.com reports. The company had revenue of $347.00 million during the quarter, compared to analysts’ expectations of $238.95 million. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. United Community Banks’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS.

United Community Banks Stock Performance

Shares of UCBI stock traded up $1.13 during trading hours on Thursday, reaching $31.18. The company had a trading volume of 1,207,799 shares, compared to its average volume of 591,213. The business has a fifty day moving average price of $25.99 and a 200-day moving average price of $26.31. United Community Banks has a one year low of $21.63 and a one year high of $31.57. The firm has a market cap of $3.71 billion, a PE ratio of 20.16 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

United Community Banks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were paid a $0.23 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.95%. United Community Banks’s dividend payout ratio is presently 59.74%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday. Piper Sandler reduced their price objective on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial raised their price objective on shares of United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Finally, DA Davidson raised their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.