United Community Banks (NASDAQ:UCBI) Releases Earnings Results

United Community Banks (NASDAQ:UCBI) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, Briefing.com reports. The firm had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $232.00 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS.

United Community Banks Price Performance

UCBI stock traded down $0.62 during mid-day trading on Thursday, reaching $25.71. 126,086 shares of the company traded hands, compared to its average volume of 641,209. 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 company has a market capitalization of $3.06 billion, a P/E ratio of 16.50 and a beta of 0.94. United Community Banks has a 52-week low of $20.37 and a 52-week high of $30.75. The company has a fifty day moving average price of $25.63 and a 200-day moving average price of $26.22.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is currently 59.36%.

Analyst Upgrades and Downgrades

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