DA Davidson Equities Analysts Lower Earnings Estimates for United Community Banks, Inc. (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at DA Davidson reduced their FY2024 EPS estimates for United Community Banks in a research note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $2.20 per share for the year, down from their prior estimate of $2.45. 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.

Several other brokerages have also issued reports on UCBI. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Truist Financial lowered their target price on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Piper Sandler upped their target price on shares of United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.00.

United Community Banks Trading Up 0.5 %

Shares of UCBI stock opened at $24.70 on Friday. United Community Banks has a 1 year low of $20.37 and a 1 year high of $30.75. The firm’s fifty day simple moving average is $25.72 and its 200 day simple moving average is $26.19. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.94 and a beta of 0.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

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

United Community Banks Dividend Announcement

The firm 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. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.72%. United Community Banks’s dividend payout ratio (DPR) is presently 59.36%.

Institutional Trading of United Community Banks

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaMark Advisors LLC increased its holdings in United Community Banks by 9.3% during the first quarter. AlphaMark Advisors LLC now owns 10,406 shares of the financial services provider’s stock worth $274,000 after buying an additional 882 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in United Community Banks during the first quarter worth $221,000. Wealthcare Advisory Partners LLC increased its holdings in United Community Banks by 9.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 8,359 shares of the financial services provider’s stock worth $220,000 after buying an additional 704 shares during the last quarter. Vanguard Group Inc. increased its holdings in United Community Banks by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock worth $396,560,000 after buying an additional 274,275 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in United Community Banks by 4.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,549,690 shares of the financial services provider’s stock worth $45,344,000 after buying an additional 67,399 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.