DA Davidson Research Analysts Cut Earnings Estimates for UCB

United Community Banks, Inc. (NASDAQ:UCB) – Equities research analysts at DA Davidson reduced their FY2024 earnings estimates for shares of United Community Banks in a research report issued on Thursday, October 24th. DA Davidson analyst G. Tenner now forecasts that the company will earn $2.26 per share for the year, down from their prior forecast of $2.29. The consensus estimate for United Community Banks’ current full-year earnings is $2.25 per share.

Separately, Truist Financial lifted their price objective on shares of United Community Banks from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, September 20th.

United Community Banks Trading Up 0.2 %

Shares of NASDAQ:UCB opened at $28.25 on Friday. The firm has a 50 day moving average price of $29.02. United Community Banks has a 12 month low of $21.63 and a 12 month high of $31.96. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.37 billion, a PE ratio of 18.23 and a beta of 0.89.

United Community Banks (NASDAQ:UCB) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. During the same period last year, the company posted $0.45 earnings per share.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were given a dividend of $0.24 per share. This is an increase from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, September 16th. United Community Banks’s dividend payout ratio is currently 61.94%.

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.