United Community Banks, Inc. (NASDAQ:UCBI) Expected to Post Earnings of $0.57 Per Share

Wall Street brokerages predict that United Community Banks, Inc. (NASDAQ:UCBI) will post $0.57 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Community Banks’ earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.59. United Community Banks reported earnings of $0.53 per share in the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The company is expected to announce its next earnings results after the market closes on Tuesday, July 23rd.

According to Zacks, analysts expect that United Community Banks will report full year earnings of $2.34 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.37. For the next year, analysts expect that the company will report earnings of $2.41 per share, with EPS estimates ranging from $2.39 to $2.44. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for United Community Banks.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $133.30 million during the quarter, compared to the consensus estimate of $137.03 million. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. United Community Banks’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS.

Several research firms have weighed in on UCBI. BidaskClub downgraded United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. ValuEngine raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, May 22nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.17.

NASDAQ UCBI traded up $0.14 during trading on Friday, hitting $27.77. The stock had a trading volume of 8,804 shares, compared to its average volume of 397,148. The company has a market capitalization of $2.17 billion, a P/E ratio of 13.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50 day moving average is $27.41. United Community Banks has a twelve month low of $20.23 and a twelve month high of $32.03.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Saturday, June 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 13th. This is a boost from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s dividend payout ratio (DPR) is presently 31.78%.

Several institutional investors and hedge funds have recently made changes to their positions in UCBI. Public Employees Retirement System of Ohio boosted its stake in shares of United Community Banks by 60.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,218 shares of the financial services provider’s stock valued at $26,000 after buying an additional 458 shares during the period. Toronto Dominion Bank purchased a new position in shares of United Community Banks in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund purchased a new position in shares of United Community Banks in the 4th quarter valued at about $30,000. Versant Capital Management Inc boosted its stake in shares of United Community Banks by 243.8% in the 1st quarter. Versant Capital Management Inc now owns 1,255 shares of the financial services provider’s stock valued at $31,000 after buying an additional 890 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of United Community Banks in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 89.50% of the company’s stock.

About United Community Banks

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Earnings History and Estimates for United Community Banks (NASDAQ:UCBI)

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