United Community Banks, Inc. to Post FY2017 Earnings of $1.62 Per Share, SunTrust Banks Forecasts (NASDAQ:UCBI)
United Community Banks, Inc. (NASDAQ:UCBI) – Analysts at SunTrust Banks boosted their FY2017 earnings per share (EPS) estimates for United Community Banks in a report issued on Wednesday. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will post earnings of $1.62 per share for the year, up from their previous forecast of $1.61. SunTrust Banks also issued estimates for United Community Banks’ Q2 2018 earnings at $0.46 EPS and Q4 2018 earnings at $0.49 EPS.
A number of other equities analysts have also issued reports on UCBI. Keefe, Bruyette & Woods set a $30.00 price objective on United Community Banks and gave the stock a “hold” rating in a report on Monday, April 10th. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Wednesday, May 3rd. UBS AG raised United Community Banks from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd. Zacks Investment Research lowered United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.67.
United Community Banks (NASDAQ UCBI) traded down 1.84% during mid-day trading on Friday, hitting $27.69. The stock had a trading volume of 71,665 shares. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 19.51 and a beta of 0.88. United Community Banks has a 12-month low of $18.78 and a 12-month high of $30.47. The company has a 50-day moving average of $27.85 and a 200-day moving average of $27.75.
United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. United Community Banks had a return on equity of 10.32% and a net margin of 23.07%. The company had revenue of $108 million for the quarter, compared to the consensus estimate of $110.49 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was up 9.4% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, June 13th. United Community Banks’s dividend payout ratio is 24.66%.
A number of institutional investors have recently modified their holdings of UCBI. USA Financial Portformulas Corp acquired a new position in shares of United Community Banks during the fourth quarter worth about $330,000. Teachers Advisors LLC increased its stake in United Community Banks by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 704,404 shares of the financial services provider’s stock worth $20,864,000 after buying an additional 4,099 shares during the period. GW&K Investment Management LLC increased its stake in United Community Banks by 15.5% in the first quarter. GW&K Investment Management LLC now owns 9,310 shares of the financial services provider’s stock worth $258,000 after buying an additional 1,250 shares during the period. Capstone Asset Management Co. increased its stake in United Community Banks by 1.0% in the first quarter. Capstone Asset Management Co. now owns 18,762 shares of the financial services provider’s stock worth $520,000 after buying an additional 181 shares during the period. Finally, TNB Financial purchased a new stake in United Community Banks during the first quarter worth $865,000. 94.37% of the stock is owned by institutional investors and hedge funds.
About United Community Banks
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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