United Community Banks (NASDAQ:UCB) Posts Earnings Results, Beats Expectations By $0.05 EPS

United Community Banks (NASDAQ:UCB) announced its earnings results on Wednesday. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05, Briefing.com reports. United Community Banks had a net margin of 13.04% and a return on equity of 8.36%. The firm had revenue of $239.50 million during the quarter, compared to analyst estimates of $243.01 million. The firm’s revenue was up 44.5% on a year-over-year basis.

United Community Banks Trading Up 2.3 %

NASDAQ UCB opened at $33.35 on Wednesday. The stock’s fifty day moving average price is $32.64. United Community Banks has a 1 year low of $24.04 and a 1 year high of $35.38. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 21.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 16th were paid a $0.24 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.88%. United Community Banks’s dividend payout ratio is presently 62.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UCB. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Thursday, December 19th. Piper Sandler lowered their price objective on shares of United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Truist Financial reduced their target price on shares of United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, October 25th.

Insider Transactions at United Community Banks

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.76, for a total value of $285,234.00. Following the sale, the chief financial officer now owns 43,991 shares in the company, valued at approximately $1,221,190.16. This represents a 18.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

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.