What is DA Davidson’s Forecast for UCB FY2024 Earnings?

United Community Banks, Inc. (NASDAQ:UCB) – Equities research analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for United Community Banks in a report released on Thursday, October 24th. DA Davidson analyst G. Tenner now forecasts that the company will earn $2.26 per share for the year, down from their prior forecast of $2.29. The consensus estimate for United Community Banks’ current full-year earnings is $2.25 per share.

Several other analysts have also recently issued reports on the company. Truist Financial cut their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday. Piper Sandler cut their price objective on United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday.

United Community Banks Price Performance

Shares of United Community Banks stock opened at $27.65 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. United Community Banks has a one year low of $21.63 and a one year high of $31.96. The stock has a 50 day moving average of $28.99. The stock has a market cap of $3.30 billion, a PE ratio of 17.84 and a beta of 0.89.

United Community Banks (NASDAQ:UCB) last issued its earnings results on Wednesday, October 23rd. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The business had revenue of $384.39 million during the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the previous year, the business earned $0.45 EPS.

United Community Banks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were paid a dividend of $0.24 per share. This is a positive change from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, September 16th. United Community Banks’s dividend payout ratio (DPR) is currently 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.