United Community Banks, Inc. to Post Q1 2024 Earnings of $0.52 Per Share, DA Davidson Forecasts (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Equities researchers at DA Davidson decreased their Q1 2024 earnings estimates for United Community Banks in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $0.52 for the quarter, down from their previous estimate 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) last issued 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 firm had revenue of $165.70 million for the quarter, compared to analysts’ expectations of $226.07 million. During the same quarter last year, the company posted $0.75 earnings per share. United Community Banks’s revenue was down 25.8% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler lifted their price target on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Truist Financial lowered their price objective on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. Finally, StockNews.com upgraded shares of United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. One 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’s stock. According to MarketBeat.com, United Community Banks presently has a consensus rating of “Hold” and a consensus target price of $31.00.

United Community Banks Stock Performance

UCBI opened at $24.57 on Thursday. The business’s 50 day moving average is $25.81 and its 200-day moving average is $26.22. The stock has a market cap of $2.93 billion, a PE ratio of 15.85 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 has a twelve month low of $20.37 and a twelve month high of $30.75.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, March 14th. United Community Banks’s payout ratio is presently 59.36%.

Institutional Investors Weigh In On United Community Banks

Several institutional investors and hedge funds have recently modified their holdings of UCBI. BlackRock Inc. raised its holdings in United Community Banks by 8.5% in the 1st quarter. BlackRock Inc. now owns 16,862,337 shares of the financial services provider’s stock worth $474,169,000 after acquiring an additional 1,322,481 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 acquiring an additional 274,275 shares during the period. FMR LLC raised its holdings in United Community Banks by 15.1% in the 3rd quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock worth $216,464,000 after acquiring an additional 1,117,539 shares during the period. State Street Corp increased its holdings in shares of United Community Banks by 34.7% during the 1st quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock worth $218,903,000 after purchasing an additional 1,611,842 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of United Community Banks by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock worth $133,249,000 after purchasing an additional 556,939 shares during the period. Institutional investors and hedge funds 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.