United Community Banks (NASDAQ:UCB) Posts Earnings Results, Misses Estimates By $0.01 EPS

United Community Banks (NASDAQ:UCB) released its quarterly earnings results on Wednesday. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01), Briefing.com reports. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The company had revenue of $384.39 million during the quarter, compared to the consensus estimate of $237.90 million. During the same period in the previous year, the firm posted $0.45 earnings per share.

United Community Banks Stock Performance

United Community Banks stock opened at $27.65 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.79 and a current ratio of 0.80. The stock has a market capitalization of $3.30 billion, a PE ratio of 17.84 and a beta of 0.89. The company 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.

United Community Banks Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were given a dividend of $0.24 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.47%. The ex-dividend date was Monday, September 16th. United Community Banks’s dividend payout ratio is currently 61.94%.

Wall Street Analysts Forecast Growth

UCB has been the subject of a number of recent research reports. Truist Financial reduced their target price on shares of United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler reduced their price objective on shares of United Community Banks from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday.

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.