United Community Banks, Inc. (NASDAQ:UCBI) – Equities researchers at SunTrust Banks decreased their Q3 2020 earnings per share estimates for United Community Banks in a report released on Monday, August 26th, according to Zacks Investment Research. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will earn $0.58 per share for the quarter, down from their prior forecast of $0.59. SunTrust Banks has a “Hold” rating and a $29.00 price objective on the stock. SunTrust Banks also issued estimates for United Community Banks’ Q4 2020 earnings at $0.58 EPS.
Other analysts have also recently issued research reports about the stock. DA Davidson started coverage on shares of United Community Banks in a research note on Tuesday, August 20th. They set a “neutral” rating for the company. ValuEngine cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. United Community Banks currently has a consensus rating of “Hold” and a consensus price target of $29.40.
UCBI stock opened at $25.82 on Wednesday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 12.07 and a beta of 1.28. The firm has a 50-day simple moving average of $27.13 and a 200-day simple moving average of $27.20. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. United Community Banks has a 52 week low of $20.23 and a 52 week high of $30.74.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $142.32 million during the quarter, compared to analysts’ expectations of $142.30 million. United Community Banks had a net margin of 27.88% and a return on equity of 12.24%. During the same quarter in the previous year, the company earned $0.53 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.68 annualized dividend and a yield of 2.63%. United Community Banks’s dividend payout ratio is presently 31.78%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of United Community Banks by 0.6% in the 1st quarter. BlackRock Inc. now owns 11,715,455 shares of the financial services provider’s stock valued at $292,067,000 after buying an additional 67,101 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of United Community Banks by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock valued at $73,107,000 after buying an additional 398,806 shares during the period. FMR LLC grew its stake in shares of United Community Banks by 66.4% in the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after buying an additional 1,125,516 shares during the period. Janus Henderson Group PLC grew its stake in shares of United Community Banks by 10.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,839,743 shares of the financial services provider’s stock valued at $52,543,000 after buying an additional 175,070 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of United Community Banks by 0.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,417,298 shares of the financial services provider’s stock valued at $35,333,000 after buying an additional 9,689 shares during the period. 92.28% of the stock is owned by institutional investors.
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.