United Community Banks, Inc. Declares Quarterly Dividend of $0.21 (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBIGet Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Stockholders of record on Wednesday, June 15th will be paid a dividend of 0.21 per share by the financial services provider on Tuesday, July 5th. This represents a $0.84 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, June 14th.

United Community Banks has raised its dividend payment by an average of 10.4% per year over the last three years and has increased its dividend every year for the last 2 years. United Community Banks has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect United Community Banks to earn $3.29 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.5%.

NASDAQ UCBI opened at $29.86 on Friday. The business has a 50 day simple moving average of $32.55 and a 200 day simple moving average of $34.94. United Community Banks has a one year low of $27.62 and a one year high of $39.32. The stock has a market capitalization of $3.16 billion, a P/E ratio of 11.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.76 and a quick ratio of 0.75.

United Community Banks (NASDAQ:UCBIGet Rating) last released its earnings results on Tuesday, April 19th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The business had revenue of $202.77 million for the quarter, compared to analyst estimates of $202.89 million. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts expect that United Community Banks will post 2.65 earnings per share for the current year.

Several equities research analysts recently commented on the company. StockNews.com raised United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Raymond James lowered United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.

In other news, CEO H Lynn Harton sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $35.11, for a total value of $175,550.00. Following the transaction, the chief executive officer now owns 242,222 shares in the company, valued at $8,504,414.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of United Community Banks by 19.1% in the first quarter. BlackRock Inc. now owns 15,623,173 shares of the financial services provider’s stock valued at $543,687,000 after purchasing an additional 2,505,834 shares in the last quarter. Vanguard Group Inc. lifted its holdings in United Community Banks by 9.6% during the first quarter. Vanguard Group Inc. now owns 11,753,740 shares of the financial services provider’s stock worth $409,029,000 after acquiring an additional 1,034,191 shares during the period. State Street Corp lifted its holdings in United Community Banks by 34.7% during the first quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock worth $218,903,000 after acquiring an additional 1,611,842 shares during the period. Dimensional Fund Advisors LP lifted its holdings in United Community Banks by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,137,725 shares of the financial services provider’s stock worth $109,197,000 after acquiring an additional 133,074 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in United Community Banks by 9.7% during the first quarter. Wellington Management Group LLP now owns 2,432,510 shares of the financial services provider’s stock worth $84,651,000 after acquiring an additional 215,258 shares during the period. Institutional investors own 79.51% of the company’s stock.

About United Community Banks (Get Rating)

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

Further Reading

Dividend History for United Community Banks (NASDAQ:UCBI)

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