United Community Banks (UCBI) Set to Release Quarterly Earnings on Wednesday

United Community Banks (NASDAQ:UCBI) will be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect United Community Banks to post earnings of $0.50 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $165.70 million during the quarter, compared to analysts’ expectations of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The business’s revenue was down 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. On average, analysts expect United Community Banks to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

United Community Banks Stock Down 1.4 %

UCBI opened at $24.54 on Wednesday. The stock’s fifty day simple moving average is $25.85 and its 200 day simple moving average is $26.22. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75. The stock has a market cap of $2.92 billion, a PE ratio of 15.90 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 Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.75%. United Community Banks’s dividend payout ratio (DPR) is currently 59.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on UCBI shares. Piper Sandler boosted their price objective on United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. TheStreet downgraded United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. DA Davidson restated a “buy” rating on shares of United Community Banks in a research note on Monday, January 15th. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Finally, Truist Financial cut their price target on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

Institutional Trading of United Community Banks

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of United Community Banks by 8.5% during the 1st quarter. BlackRock Inc. now owns 16,862,337 shares of the financial services provider’s stock worth $474,169,000 after buying an additional 1,322,481 shares in the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 274,275 shares in the last quarter. State Street Corp lifted its holdings in shares of United Community Banks by 34.7% in 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of United Community Banks by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,410,474 shares of the financial services provider’s stock valued at $95,901,000 after purchasing an additional 143,286 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of United Community Banks by 9.7% during the 1st quarter. Wellington Management Group LLP now owns 2,432,510 shares of the financial services provider’s stock valued at $84,651,000 after purchasing an additional 215,258 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

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.