Equities Analysts Set Expectations for United Community Banks, Inc.’s Q2 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for United Community Banks in a research report issued on Friday, April 26th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.53 per share for the quarter. DA Davidson has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.09 per share. DA Davidson also issued estimates for United Community Banks’ FY2024 earnings at $2.17 EPS and FY2025 earnings at $2.41 EPS.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share.

Other equities analysts have also issued research reports about the company. Piper Sandler cut their price target on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Finally, Truist Financial reduced their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, United Community Banks currently has a consensus rating of “Hold” and a consensus price target of $30.60.

United Community Banks Stock Down 1.6 %

NASDAQ:UCBI opened at $25.23 on Monday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 16.38 and a beta of 0.94. 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’s fifty day moving average price is $25.51 and its two-hundred day moving average price is $26.23. United Community Banks has a 52-week low of $20.37 and a 52-week high of $30.75.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Thursday, March 14th. United Community Banks’s payout ratio is 59.74%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of United Community Banks in the fourth quarter valued at about $37,723,000. FMR LLC boosted its holdings in shares of 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. Hsbc Holdings PLC acquired a new position in shares of United Community Banks in the fourth quarter valued at approximately $20,850,000. Dimensional Fund Advisors LP grew its holdings in United Community Banks by 13.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock valued at $133,249,000 after buying an additional 556,939 shares in the last quarter. Finally, Northern Trust Corp increased its position in United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock worth $48,633,000 after buying an additional 337,102 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

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.