Research Analysts Issue Forecasts for UCB FY2024 Earnings

United Community Banks, Inc. (NASDAQ:UCB - Free Report) - Equities research analysts at DA Davidson dropped their FY2024 earnings estimates for United Community Banks in a report issued on Thursday, October 24th. DA Davidson analyst G. Tenner now anticipates that the company will post earnings of $2.26 per share for the year, down from their previous estimate of $2.29. The consensus estimate for United Community Banks' current full-year earnings is $2.25 per share.

A number of other research firms have also weighed in on UCB. Truist Financial dropped their price target on shares of United Community Banks from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday. Piper Sandler cut their target price on United Community Banks from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday.

United Community Banks Stock Performance

Shares of United Community Banks stock traded down $0.60 on Friday, hitting $27.65. The company had a trading volume of 325,709 shares, compared to its average volume of 567,753. United Community Banks has a 1 year low of $21.63 and a 1 year high of $31.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.79. The stock's 50 day simple moving average is $28.99. The firm has a market capitalization of $3.30 billion, a PE ratio of 17.84 and a beta of 0.89.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $384.39 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.45 EPS.

United Community Banks Increases Dividend

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