Brokers Offer Predictions for United Community Banks, Inc.’s Q1 2024 Earnings (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBI) – Investment analysts at DA Davidson reduced their Q1 2024 earnings per share estimates for United Community Banks in a report released on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $0.52 per share for the quarter, down from their previous estimate of $0.53. DA Davidson currently has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.19 per share. DA Davidson also issued estimates for United Community Banks’ FY2025 earnings at $2.44 EPS.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $165.70 million during the quarter, compared to analysts’ expectations of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The business’s quarterly revenue was down 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share.

Several other equities research analysts have also recently weighed in on the company. StockNews.com raised United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. Truist Financial decreased their target price on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 1st. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. Finally, Piper Sandler raised their target price on United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and a consensus target price of $31.00.

United Community Banks Trading Up 2.2 %

Shares of UCBI stock opened at $25.25 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 16.29 and a beta of 0.94. The stock has a 50-day moving average of $25.68 and a 200-day moving average of $26.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in United Community Banks by 8.5% in the first quarter. BlackRock Inc. now owns 16,862,337 shares of the financial services provider’s stock worth $474,169,000 after acquiring an additional 1,322,481 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of United Community Banks by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock valued at $396,560,000 after purchasing an additional 274,275 shares in the last quarter. FMR LLC lifted its holdings in shares of United Community Banks by 15.1% in the third quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock valued at $216,464,000 after purchasing an additional 1,117,539 shares in the last quarter. State Street Corp lifted its holdings in shares of United Community Banks by 34.7% in the first quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock valued at $218,903,000 after purchasing an additional 1,611,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of United Community Banks by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock valued at $133,249,000 after purchasing an additional 556,939 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.64%. United Community Banks’s payout ratio is currently 59.36%.

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.