Equities research analysts expect United Community Banks, Inc. (NASDAQ:UCBI) to post sales of $144.76 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for United Community Banks’ earnings. The highest sales estimate is $146.60 million and the lowest is $141.22 million. United Community Banks posted sales of $137.92 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The firm is scheduled to announce its next earnings report on Tuesday, January 28th.
On average, analysts expect that United Community Banks will report full year sales of $570.53 million for the current year, with estimates ranging from $562.42 million to $573.80 million. For the next financial year, analysts anticipate that the business will report sales of $586.76 million, with estimates ranging from $578.44 million to $593.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover United Community Banks.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $148.37 million for the quarter, compared to the consensus estimate of $143.91 million. United Community Banks had a net margin of 27.87% and a return on equity of 12.24%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS.
UCBI traded up $0.28 during trading hours on Thursday, hitting $31.39. 361,700 shares of the company’s stock were exchanged, compared to its average volume of 415,105. The firm has a 50 day moving average of $28.96 and a 200 day moving average of $27.85. United Community Banks has a 12-month low of $20.23 and a 12-month high of $31.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.46 billion, a P/E ratio of 14.67 and a beta of 1.27.
In related news, CAO Alan H. Kumler sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $28.00, for a total value of $84,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 11,924 shares of company stock valued at $347,834. 1.18% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in UCBI. Nuveen Asset Management LLC purchased a new stake in United Community Banks in the 2nd quarter valued at $34,944,000. Macquarie Group Ltd. purchased a new stake in United Community Banks in the 2nd quarter valued at $31,396,000. Morgan Stanley raised its position in United Community Banks by 200.2% during the 2nd quarter. Morgan Stanley now owns 348,724 shares of the financial services provider’s stock worth $9,960,000 after buying an additional 232,570 shares during the last quarter. Janus Henderson Group PLC raised its position in United Community Banks by 10.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,839,743 shares of the financial services provider’s stock worth $52,543,000 after buying an additional 175,070 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in United Community Banks during the 3rd quarter worth $4,754,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.
United Community Banks Company Profile
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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