United Community Banks (NASDAQ:UCBI) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

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

UCBI stock traded down $0.17 on Wednesday, reaching $28.75. The company had a trading volume of 442,927 shares, compared to its average volume of 435,093. United Community Banks has a 1 year low of $15.73 and a 1 year high of $36.67. The company has a market capitalization of $2.49 billion, a P/E ratio of 12.39 and a beta of 1.26. The firm’s fifty day moving average price is $32.85. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

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

Several research firms have commented on UCBI. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Wednesday. Raymond James reduced their price objective on United Community Banks from $39.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a buy rating, United Community Banks presently has a consensus rating of “Buy” and an average price target of $28.63.

In related news, CFO Jefferson L. Harralson sold 6,000 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $32.00, for a total value of $192,000.00. Following the transaction, the chief financial officer now directly owns 26,142 shares of the company’s stock, valued at approximately $836,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Harton sold 10,000 shares of the stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $32.16, for a total value of $321,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

About United Community Banks

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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