United Community Banks (NASDAQ:UCB) Issues Quarterly Earnings Results

United Community Banks (NASDAQ:UCB) announced its earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01), Briefing.com reports. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. The company had revenue of $384.39 million during the quarter, compared to analyst estimates of $237.90 million. During the same quarter last year, the business earned $0.45 EPS.

United Community Banks Price Performance

Shares of NASDAQ:UCB traded down $0.60 during mid-day trading on Friday, reaching $27.65. 325,709 shares of the company were exchanged, compared to its average volume of 567,753. United Community Banks has a 1 year low of $21.63 and a 1 year high of $31.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.79 and a current ratio of 0.80. The company has a 50-day moving average price of $28.99. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 17.84 and a beta of 0.89.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 16th. This is a boost from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.47%. United Community Banks’s dividend payout ratio (DPR) is currently 61.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UCB. Truist Financial decreased their price objective on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Piper Sandler decreased their price target on shares of United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday.

United Community Banks Company Profile

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.