United Community Banks, Inc. (UCBI) Issues Quarterly Earnings Results
United Community Banks, Inc. (NASDAQ:UCBI) released its earnings results on Tuesday. The financial services provider reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41, Bloomberg Earnings reports. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The firm had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year.
United Community Banks (NASDAQ:UCBI) opened at 28.42 on Wednesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 19.47 and a beta of 0.87. The stock’s 50 day moving average is $27.37 and its 200 day moving average is $27.21. United Community Banks has a 52-week low of $20.26 and a 52-week high of $30.47.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.09. United Community Banks’s dividend payout ratio is currently 27.40%.
In related news, EVP Robert A. Edwards sold 11,550 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the transaction, the executive vice president now directly owns 16,858 shares of the company’s stock, valued at $439,319.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.18% of the stock is owned by company insiders.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stephens reiterated a “hold” rating and set a $30.00 target price on shares of United Community Banks in a research note on Tuesday, June 27th. BidaskClub lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $33.00 target price on shares of United Community Banks in a research note on Thursday, October 12th. Finally, FIG Partners upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.00.
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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