United Community Banks (NASDAQ:UCB) Price Target Lowered to $30.00 at Truist Financial

United Community Banks (NASDAQ:UCB) had its price target lowered by Truist Financial from $32.00 to $30.00 in a research report report published on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

United Community Banks Stock Performance

NASDAQ:UCB opened at $27.65 on Friday. The firm has a 50-day simple moving average of $28.99. United Community Banks has a one year low of $21.63 and a one year high of $31.96. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 17.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.79 and a current ratio of 0.80.

United Community Banks (NASDAQ:UCB) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $384.39 million during the quarter, compared to the consensus estimate of $237.90 million. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. During the same period last year, the firm earned $0.45 EPS. On average, research analysts predict that United Community Banks will post 2.25 EPS for the current fiscal year.

United Community Banks Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a $0.24 dividend. The ex-dividend date was Monday, September 16th. This is an increase from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.47%. United Community Banks’s payout ratio is currently 61.94%.

About United Community Banks

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.