United Community Banks (NASDAQ:UCBI) Announces Earnings Results

United Community Banks (NASDAQ:UCBI) announced its earnings results on Monday. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12, MarketWatch Earnings reports. The firm had revenue of $174.22 million for the quarter, compared to analysts’ expectations of $169.90 million. United Community Banks had a return on equity of 11.38% and a net margin of 27.81%. United Community Banks’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS.

Shares of UCBI traded down $0.17 during trading hours on Wednesday, hitting $28.75. The stock had a trading volume of 442,927 shares, compared to its average volume of 435,093. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.39 and a beta of 1.26. The stock has a fifty day simple moving average of $32.85. United Community Banks has a 12-month low of $15.73 and a 12-month high of $36.67.

The company also recently announced a quarterly dividend, which was paid on Monday, July 5th. Investors of record on Tuesday, June 15th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, June 14th. United Community Banks’s dividend payout ratio (DPR) is currently 38.38%.

In other United Community Banks news, CEO H Lynn Harton sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $32.16, for a total value of $321,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jefferson L. Harralson sold 6,000 shares of the firm’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $32.00, for a total value of $192,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,142 shares in the company, valued at $836,544. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Raymond James decreased their price objective on United Community Banks from $39.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday. Four research analysts have rated the stock with a buy rating, United Community Banks currently has a consensus rating of “Buy” and an average target price of $28.63.

United Community Banks Company Profile

United Community Banks, Inc operates as a bank holding company for the United Community Bank, a state-chartered bank that provides various banking products and services. The company accepts checking, savings, money market, negotiable order of withdrawal, time, and other deposit accounts, as well as certificates of deposit.

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Earnings History for United Community Banks (NASDAQ:UCBI)

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