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

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

United Community Banks Price Performance

UCB stock opened at $27.65 on Friday. United Community Banks has a 1-year low of $21.63 and a 1-year high of $31.96. The company has a 50-day moving average price of $28.99. The company has a market capitalization of $3.30 billion, a P/E ratio of 17.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.79.

United Community Banks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.47%. United Community Banks’s dividend payout ratio is presently 61.94%.

Analyst Upgrades and Downgrades

UCB has been the topic of several recent analyst reports. Piper Sandler reduced 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. Truist Financial dropped their target price on shares of United Community Banks from $32.00 to $30.00 and set a “hold” 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.