United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) – Research analysts at DA Davidson increased their Q2 2022 earnings per share estimates for shares of United Community Banks in a research note issued on Thursday, June 30th. DA Davidson analyst K. Fitzsimmons now expects that the financial services provider will post earnings per share of $0.70 for the quarter, up from their prior estimate of $0.68. The consensus estimate for United Community Banks’ current full-year earnings is $2.68 per share. DA Davidson also issued estimates for United Community Banks’ FY2023 earnings at $3.41 EPS.
A number of other analysts have also recently issued reports on the company. Raymond James cut United Community Banks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. StockNews.com downgraded United Community Banks from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Finally, Truist Financial cut their price objective on shares of United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th.
Shares of United Community Banks stock opened at $30.19 on Friday. United Community Banks has a 52 week low of $27.62 and a 52 week high of $39.32. The firm has a fifty day moving average of $30.38 and a two-hundred day moving average of $33.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.76. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 11.70 and a beta of 1.07. United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $202.77 million during the quarter, compared to the consensus estimate of $202.89 million. United Community Banks had a net margin of 32.10% and a return on equity of 11.93%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share.
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A number of institutional investors and hedge funds have recently bought and sold shares of UCBI. Raleigh Capital Management Inc. bought a new stake in United Community Banks during the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in shares of United Community Banks by 87.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,123 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 524 shares during the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in shares of United Community Banks during the 1st quarter valued at about $54,000. Lazard Asset Management LLC lifted its position in United Community Banks by 54.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 563 shares during the period. Finally, Lee Financial Co purchased a new stake in shares of United Community Banks in the first quarter worth $96,000. 79.51% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, June 14th. United Community Banks’s payout ratio is presently 32.56%.
About United Community Banks (Get Rating)
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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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