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

United Community Banks (NASDAQ:UCBI) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02, Briefing.com reports. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. During the same period last year, the company earned $0.58 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year.

United Community Banks Price Performance

NASDAQ UCBI traded up $0.24 on Friday, hitting $26.06. 78,014 shares of the company’s stock were exchanged, compared to its average volume of 638,551. 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 of $25.59 and a 200-day moving average of $26.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 16.77 and a beta of 0.94.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.53%. United Community Banks’s dividend payout ratio (DPR) is 59.74%.

Analysts Set New Price Targets

UCBI has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Piper Sandler dropped their price objective on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. Finally, StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, United Community Banks currently has an average 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.