United Community Banks, Inc. (UCBI) Plans Dividend Increase – $0.16 Per Share
United Community Banks, Inc. (NASDAQ:UCBI) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Saturday, December 15th will be paid a dividend of 0.16 per share by the financial services provider on Monday, January 7th. This represents a $0.64 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, December 13th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.15.
United Community Banks has raised its dividend by an average of 81.7% per year over the last three years and has raised its dividend every year for the last 2 years. United Community Banks has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Community Banks to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 28.6%.
Shares of UCBI opened at $23.84 on Friday. United Community Banks has a 12-month low of $22.83 and a 12-month high of $34.18. The firm has a market cap of $1.89 billion, a P/E ratio of 11.95 and a beta of 0.93. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42.
Several brokerages recently issued reports on UCBI. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. BidaskClub cut United Community Banks from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine lowered United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. FIG Partners reaffirmed an “outperform” rating on shares of United Community Banks in a research report on Thursday, September 20th. Finally, Stephens reaffirmed a “hold” rating and issued a $24.00 target price on shares of United Community Banks in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.40.
United Community Banks Company Profile
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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