Equities Analysts Offer Predictions for United Community Banks, Inc.’s Q3 2017 Earnings (UCBI)
United Community Banks, Inc. (NASDAQ:UCBI) – Investment analysts at FIG Partners boosted their Q3 2017 earnings per share (EPS) estimates for United Community Banks in a report released on Wednesday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40. FIG Partners currently has a “Outperform” rating and a $32.00 target price on the stock.
UCBI has been the subject of a number of other reports. ValuEngine upgraded United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. UBS AG upgraded United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. lowered their target price on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 27th. Finally, Stephens restated a “hold” rating and issued a $30.00 target price on shares of United Community Banks in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.86.
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Shares of United Community Banks (UCBI) opened at 26.61 on Thursday. United Community Banks has a 12-month low of $19.61 and a 12-month high of $30.47. The firm has a market cap of $1.89 billion, a P/E ratio of 18.23 and a beta of 0.88. The company has a 50-day moving average of $27.74 and a 200 day moving average of $27.62.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The company had revenue of $108 million during the quarter, compared to the consensus estimate of $110.49 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp boosted its position in United Community Banks by 0.3% in the first quarter. M&T Bank Corp now owns 11,297 shares of the financial services provider’s stock valued at $314,000 after buying an additional 38 shares in the last quarter. Alps Advisors Inc. boosted its position in United Community Banks by 0.3% in the second quarter. Alps Advisors Inc. now owns 16,667 shares of the financial services provider’s stock valued at $463,000 after buying an additional 43 shares in the last quarter. 1st Global Advisors Inc. boosted its position in United Community Banks by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 7,702 shares of the financial services provider’s stock valued at $213,000 after buying an additional 113 shares in the last quarter. Amalgamated Bank boosted its position in United Community Banks by 1.5% in the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after buying an additional 140 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in United Community Banks by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the financial services provider’s stock valued at $216,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.
In related news, EVP Robert A. Edwards sold 11,550 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $26.06, for a total value of $300,993.00. Following the transaction, the executive vice president now owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.18% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a $0.10 dividend. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.40 annualized dividend and a yield of 1.50%. United Community Banks’s dividend payout ratio (DPR) is currently 24.66%.
United Community Banks Company Profile
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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