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

United Community Banks (NASDAQ:UCB - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01), Briefing.com reports. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. During the same quarter in the prior year, the business posted $0.45 EPS.

United Community Banks Stock Up 0.2 %

UCB traded up $0.05 during trading on Thursday, hitting $28.25. 416,712 shares of the company traded hands, compared to its average volume of 568,518. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 18.23 and a beta of 0.89. United Community Banks has a one year low of $21.63 and a one year high of $31.96. The firm's fifty day moving average price is $29.02.

United Community Banks Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, September 16th. This represents a $0.96 annualized dividend and a yield of 3.40%. This is a positive change from United Community Banks's previous quarterly dividend of $0.23. United Community Banks's dividend payout ratio is presently 61.94%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial increased their price target on shares of United Community Banks from $31.00 to $32.00 and gave the company a "hold" rating in a research report on Friday, September 20th.

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.