Wall Street brokerages predict that United Community Banks, Inc. (NASDAQ:UCBI) will announce $0.54 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for United Community Banks’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.54. United Community Banks reported earnings of $0.41 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.7%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, July 24th.
According to Zacks, analysts expect that United Community Banks will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.22. For the next year, analysts anticipate that the firm will post earnings of $2.42 per share, with EPS estimates ranging from $2.39 to $2.45. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for United Community Banks.
Get United Community Banks alerts:United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. United Community Banks had a return on equity of 10.49% and a net margin of 16.20%. The business had revenue of $121.90 million for the quarter, compared to analysts’ expectations of $127.02 million. During the same period last year, the business earned $0.39 EPS. The business’s revenue was up 16.3% on a year-over-year basis.
UCBI has been the topic of several recent analyst reports. Zacks Investment Research cut United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. ValuEngine lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub lowered United Community Banks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 18th. Finally, SunTrust Banks lowered United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. United Community Banks currently has a consensus rating of “Hold” and an average price target of $31.20.
Several institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC increased its position in shares of United Community Banks by 9.3% during the 1st quarter. Mason Street Advisors LLC now owns 20,410 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,739 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in United Community Banks by 6.4% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 29,390 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 1,760 shares during the last quarter. US Bancorp DE increased its holdings in United Community Banks by 2.8% in the 1st quarter. US Bancorp DE now owns 65,480 shares of the financial services provider’s stock worth $2,073,000 after acquiring an additional 1,770 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in United Community Banks by 2.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 95,815 shares of the financial services provider’s stock worth $3,031,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its holdings in United Community Banks by 20.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 12,124 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 2,100 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.
United Community Banks traded down $0.04, hitting $30.81, during trading hours on Tuesday, MarketBeat.com reports. 503,805 shares of the company traded hands, compared to its average volume of 395,707. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.56. United Community Banks has a one year low of $24.47 and a one year high of $34.18. The stock has a market cap of $2.44 billion, a PE ratio of 17.71 and a beta of 0.90.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 5th. Stockholders of record on Friday, June 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, June 14th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.95%. United Community Banks’s dividend payout ratio (DPR) is currently 36.81%.
About United Community Banks
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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