United Community Banks, Inc. (NASDAQ:UCBI) to Post Q1 2024 Earnings of $0.52 Per Share, DA Davidson Forecasts

United Community Banks, Inc. (NASDAQ:UCBI) – Equities research analysts at DA Davidson decreased their Q1 2024 earnings per share (EPS) estimates for United Community Banks in a note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.52 for the quarter, down from their previous forecast of $0.53. DA Davidson has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.19 per share. DA Davidson also issued estimates for United Community Banks’ FY2025 earnings at $2.44 EPS.

A number of other equities research analysts have also recently commented on UCBI. StockNews.com raised United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Truist Financial reduced their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Piper Sandler raised their price objective on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and a consensus price target of $31.00.

United Community Banks Trading Up 0.5 %

Shares of United Community Banks stock opened at $24.70 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. United Community Banks has a 52 week low of $20.37 and a 52 week high of $30.75. The stock has a 50 day moving average price of $25.77 and a two-hundred day moving average price of $26.20. The stock has a market capitalization of $2.94 billion, a PE ratio of 15.94 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The firm had revenue of $165.70 million during the quarter, compared to analysts’ expectations of $226.07 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was down 25.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of United Community Banks by 8.5% during the first quarter. BlackRock Inc. now owns 16,862,337 shares of the financial services provider’s stock valued at $474,169,000 after buying an additional 1,322,481 shares during the last quarter. Vanguard Group Inc. lifted its holdings in United Community Banks by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock worth $396,560,000 after acquiring an additional 274,275 shares during the period. FMR LLC lifted its holdings in United Community Banks by 15.1% during the third quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock worth $216,464,000 after acquiring an additional 1,117,539 shares during the period. State Street Corp lifted its holdings in United Community Banks by 34.7% during the first quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock worth $218,903,000 after acquiring an additional 1,611,842 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in United Community Banks by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock worth $133,249,000 after acquiring an additional 556,939 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.72%. United Community Banks’s payout ratio is 59.35%.

About United Community Banks

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.