United Community Banks (NASDAQ:UCBI) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

United Community Banks (NASDAQ:UCBI) issued its quarterly earnings data on Monday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12, MarketWatch Earnings reports. The firm had revenue of $174.22 million for the quarter, compared to analyst estimates of $169.90 million. United Community Banks had a net margin of 27.81% and a return on equity of 11.38%. United Community Banks’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS.

Shares of United Community Banks stock traded down $0.17 on Wednesday, reaching $28.75. 442,927 shares of the company were exchanged, compared to its average volume of 435,093. United Community Banks has a 1-year low of $15.73 and a 1-year high of $36.67. The company has a market capitalization of $2.49 billion, a P/E ratio of 12.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.81. The stock’s 50 day moving average is $32.85.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 5th. Stockholders of record on Tuesday, June 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, June 14th. United Community Banks’s dividend payout ratio is presently 38.38%.

In other news, CEO H Lynn Harton sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $32.16, for a total transaction of $321,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jefferson L. Harralson sold 6,000 shares of the business’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $32.00, for a total value of $192,000.00. Following the transaction, the chief financial officer now directly owns 26,142 shares of the company’s stock, valued at $836,544. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

UCBI has been the topic of several research analyst reports. Raymond James reduced their price objective on shares of United Community Banks from $39.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded shares of United Community Banks from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday. Four analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $28.63.

About United Community Banks

United Community Banks, Inc operates as a bank holding company for the United Community Bank, a state-chartered bank that provides various banking products and services. The company accepts checking, savings, money market, negotiable order of withdrawal, time, and other deposit accounts, as well as certificates of deposit.

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Earnings History for United Community Banks (NASDAQ:UCBI)

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