United Community Banks (NASDAQ:UCBI) Posts Earnings Results, Beats Expectations By $0.07 EPS

United Community Banks (NASDAQ:UCBI) announced its earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07, Briefing.com reports. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. The firm had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $238.95 million. During the same period in the prior year, the company earned $0.55 EPS. The business’s revenue was up 17.3% compared to the same quarter last year.

United Community Banks Stock Up 1.1 %

Shares of UCBI stock traded up $0.33 during mid-day trading on Friday, hitting $31.51. The stock had a trading volume of 654,442 shares, compared to its average volume of 590,485. The firm has a market capitalization of $3.75 billion, a P/E ratio of 20.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.81. United Community Banks has a 12-month low of $21.63 and a 12-month high of $31.96. The firm’s 50-day moving average is $26.08 and its two-hundred day moving average is $26.34.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, June 14th. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

Analysts Set New Price Targets

UCBI has been the subject of a number of recent analyst reports. StockNews.com raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods upped their target price on United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday. Truist Financial raised their price target on United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler cut their price objective on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, DA Davidson lifted their target price on United Community Banks from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.50.

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.