United Community Banks (NASDAQ:UCB) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

United Community Banks (NASDAQ:UCB) released its earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), Briefing.com reports. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. The company had revenue of $384.39 million during the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter last year, the business posted $0.45 earnings per share.

United Community Banks Price Performance

Shares of UCB traded down $0.60 during mid-day trading on Friday, reaching $27.65. The company’s stock had a trading volume of 325,709 shares, compared to its average volume of 567,753. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10. United Community Banks has a 12-month low of $21.63 and a 12-month high of $31.96. The firm has a market capitalization of $3.30 billion, a PE ratio of 17.84 and a beta of 0.89. The firm’s 50 day moving average price is $28.99.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were given a dividend of $0.24 per share. This is a boost from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Monday, September 16th. United Community Banks’s dividend payout ratio is currently 61.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price objective on United Community Banks from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial decreased their price target on shares of United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday.

United Community Banks Company Profile

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.