Q4 2018 Earnings Forecast for United Community Banks, Inc. Issued By SunTrust Banks (UCBI)
United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at SunTrust Banks lifted their Q4 2018 earnings estimates for United Community Banks in a note issued to investors on Monday. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings of $0.60 per share for the quarter, up from their prior forecast of $0.49. SunTrust Banks has a “Buy” rating and a $33.00 price objective on the stock.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $109.35 million for the quarter, compared to analyst estimates of $114.65 million. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. United Community Banks’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Wednesday, December 27th. BidaskClub downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, ValuEngine downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. United Community Banks presently has an average rating of “Buy” and a consensus target price of $31.00.
United Community Banks (NASDAQ:UCBI) traded up $0.88 during mid-day trading on Tuesday, reaching $30.79. 982,537 shares of the company traded hands, compared to its average volume of 467,518. The firm has a market capitalization of $2,260.00, a price-to-earnings ratio of 20.95 and a beta of 0.89. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.52. United Community Banks has a 1-year low of $24.47 and a 1-year high of $30.86.
A number of institutional investors and hedge funds have recently bought and sold shares of UCBI. Zions Bancorporation bought a new stake in United Community Banks in the third quarter valued at $115,000. Riverhead Capital Management LLC increased its position in shares of United Community Banks by 134.3% during the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,090 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of United Community Banks during the third quarter worth about $200,000. Magnetar Financial LLC bought a new stake in shares of United Community Banks during the third quarter worth about $201,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of United Community Banks during the third quarter worth about $207,000. 87.67% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.30%. The ex-dividend date was Thursday, December 14th. United Community Banks’s dividend payout ratio (DPR) is currently 27.21%.
United Community Banks Company Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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