United Community Banks (NASDAQ:UCBI) Releases Earnings Results, Beats Expectations By $0.02 EPS

United Community Banks (NASDAQ:UCBI) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02, Briefing.com reports. The firm had revenue of $225.80 million during the quarter, compared to analyst estimates of $232.00 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 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share.

United Community Banks Trading Down 2.7 %

Shares of NASDAQ:UCBI traded down $0.71 during mid-day trading on Thursday, reaching $25.62. 52,141 shares of the company were exchanged, compared to its average volume of 640,261. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 16.99 and a beta of 0.94. The firm’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $26.22. United Community Banks has a 1 year low of $20.37 and a 1 year high of $30.75.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.59%. United Community Banks’s dividend payout ratio is currently 59.36%.

Analyst Ratings Changes

A number of brokerages recently issued reports on UCBI. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. StockNews.com upgraded United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Truist Financial lowered their price target 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. Piper Sandler lowered their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Finally, TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.60.

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.