United Community Banks, Inc. (NASDAQ:UCBI) – Research analysts at FIG Partners lifted their Q2 2019 EPS estimates for shares of United Community Banks in a research note issued on Tuesday, May 14th. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings of $0.57 per share for the quarter, up from their prior estimate of $0.56. FIG Partners also issued estimates for United Community Banks’ Q3 2019 earnings at $0.59 EPS, FY2019 earnings at $2.32 EPS, Q2 2020 earnings at $0.60 EPS and Q3 2020 earnings at $0.62 EPS.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The business had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. During the same quarter in the previous year, the business posted $0.50 EPS. United Community Banks’s revenue for the quarter was up 9.4% on a year-over-year basis.
A number of other brokerages have also issued reports on UCBI. Keefe, Bruyette & Woods lowered United Community Banks from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Sunday, February 24th. BidaskClub lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine raised United Community Banks from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, SunTrust Banks lifted their target price on United Community Banks to $29.00 and gave the company a “hold” rating in a research report on Friday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.33.
Shares of United Community Banks stock opened at $27.34 on Thursday. United Community Banks has a 52-week low of $20.23 and a 52-week high of $34.18. The company has a market capitalization of $2.17 billion, a P/E ratio of 12.78 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.
Several large investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of United Community Banks by 66.4% during the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock worth $70,332,000 after purchasing an additional 1,125,516 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of United Community Banks by 67.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,300,979 shares of the financial services provider’s stock worth $32,433,000 after purchasing an additional 524,260 shares during the last quarter. Oxford Asset Management LLP acquired a new position in shares of United Community Banks during the 1st quarter worth approximately $920,000. Hsbc Holdings PLC increased its position in shares of United Community Banks by 49.5% during the 1st quarter. Hsbc Holdings PLC now owns 319,815 shares of the financial services provider’s stock worth $7,973,000 after purchasing an additional 105,875 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in shares of United Community Banks by 55.4% during the 1st quarter. Pinebridge Investments L.P. now owns 88,481 shares of the financial services provider’s stock worth $2,206,000 after purchasing an additional 31,539 shares during the last quarter. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Bradley J. Miller sold 8,627 shares of United Community Banks stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $29.16, for a total value of $251,563.32. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.18% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Saturday, June 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s dividend payout ratio (DPR) is currently 29.91%.
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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