DA Davidson Comments on United Community Banks, Inc.’s Q2 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of United Community Banks in a research note issued to investors on Friday, April 26th. DA Davidson analyst G. Tenner forecasts that the financial services provider will earn $0.53 per share for the quarter. DA Davidson currently has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.09 per share. DA Davidson also issued estimates for United Community Banks’ FY2024 earnings at $2.17 EPS and FY2025 earnings at $2.41 EPS.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The firm had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. During the same quarter last year, the firm earned $0.58 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year.

A number of other equities research analysts also recently commented on UCBI. Piper Sandler reduced their target price on United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Truist Financial reduced their price target on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, StockNews.com raised United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.60.

United Community Banks Stock Up 0.6 %

UCBI opened at $25.98 on Monday. The business has a 50 day simple moving average of $25.57 and a 200-day simple moving average of $26.22. United Community Banks has a 12 month low of $20.37 and a 12 month high of $30.75. The stock has a market capitalization of $3.09 billion, a P/E ratio of 16.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.54%. United Community Banks’s dividend payout ratio is presently 59.74%.

Institutional Trading of United Community Banks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC acquired a new stake in shares of United Community Banks during the third quarter worth $36,000. GAMMA Investing LLC acquired a new stake in United Community Banks in the fourth quarter valued at approximately $72,000. SG Americas Securities LLC acquired a new stake in United Community Banks during the 4th quarter valued at $115,000. FinTrust Capital Advisors LLC grew its stake in shares of United Community Banks by 12.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 500 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 5,568 shares in the last quarter. Hedge funds and other 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.