Brokers Offer Predictions for United Community Banks, Inc.’s Q1 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at DA Davidson cut their Q1 2024 earnings per share (EPS) estimates for shares of United Community Banks in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $0.52 per share 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.

Several other research firms have also recently weighed in on UCBI. Truist Financial dropped their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Finally, Piper Sandler increased their target price on United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, United Community Banks presently has an average rating of “Hold” and an average target price of $31.00.

United Community Banks Trading Up 2.2 %

NASDAQ UCBI opened at $25.25 on Thursday. United Community Banks has a fifty-two week low of $20.37 and a fifty-two week high of $30.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $25.68 and a two-hundred day simple moving average of $26.20. The stock has a market cap of $3.01 billion, a P/E ratio of 16.29 and a beta of 0.94.

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

United Community Banks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio is currently 59.36%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC increased its position in United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after buying an additional 474 shares in the last quarter. Carmel Capital Partners LLC bought a new position in United Community Banks during the 3rd quarter valued at approximately $36,000. Belpointe Asset Management LLC increased its position in United Community Banks by 113.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after buying an additional 735 shares in the last quarter. State of Wyoming increased its position in United Community Banks by 25.9% during the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock valued at $47,000 after buying an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in United Community Banks during the 4th quarter valued at approximately $72,000. Institutional investors own 82.29% of the company’s stock.

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.