United Community Banks, Inc. (NASDAQ:UCBI – Free Report) – Research analysts at DA Davidson cut their Q1 2024 earnings per share estimates for United Community Banks in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.52 for the quarter, down from their previous forecast of $0.53. DA Davidson currently has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.19 per share. DA Davidson also issued estimates for United Community Banks’ FY2025 earnings at $2.44 EPS.
United Community Banks (NASDAQ:UCBI – Get Free Report) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $165.70 million for the quarter, compared to the consensus estimate of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The firm’s quarterly revenue was down 25.8% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS.
Read Our Latest Analysis on United Community Banks
United Community Banks Stock Performance
NASDAQ UCBI opened at $24.57 on Thursday. The stock has a market capitalization of $2.93 billion, a PE ratio of 15.85 and a beta of 0.94. The business has a 50 day simple moving average of $25.81 and a two-hundred day simple moving average of $26.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75.
Institutional Trading of United Community Banks
Hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Group LLC acquired a new position in United Community Banks in the 1st quarter worth about $221,000. Wealthcare Advisory Partners LLC raised its holdings in United Community Banks by 9.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,359 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 704 shares during the period. Vanguard Group Inc. raised its holdings in United Community Banks by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock worth $396,560,000 after purchasing an additional 274,275 shares during the period. Goldman Sachs Group Inc. raised its holdings in United Community Banks by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,549,690 shares of the financial services provider’s stock worth $45,344,000 after purchasing an additional 67,399 shares during the period. Finally, Mendon Capital Advisors Corp acquired a new position in United Community Banks in the 4th quarter worth about $878,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
United Community Banks Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.74%. United Community Banks’s payout ratio is presently 59.36%.
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.
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