United Community Banks, Inc. (NASDAQ:UCBI) to Post Q1 2024 Earnings of $0.52 Per Share, DA Davidson Forecasts

United Community Banks, Inc. (NASDAQ:UCBI) – Stock analysts at DA Davidson dropped their Q1 2024 earnings per share estimates for United Community Banks in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.53. DA Davidson has a “Buy” rating on the stock. The consensus estimate for United Community Banks’ current full-year earnings is $2.19 per share. DA Davidson also issued estimates for United Community Banks’ FY2025 earnings at $2.44 EPS.

Several other research firms have also issued reports on UCBI. StockNews.com upgraded United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. TheStreet lowered United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. Truist Financial decreased their target price on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, Piper Sandler boosted their price objective on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, United Community Banks presently has an average rating of “Hold” and a consensus price target of $31.00.

United Community Banks Price Performance

United Community Banks stock opened at $24.70 on Thursday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.94 and a beta of 0.94. United Community Banks has a 1 year low of $20.37 and a 1 year high of $30.75. The business has a 50-day moving average of $25.77 and a 200-day moving average of $26.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $165.70 million during the quarter, compared to analyst estimates of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The company’s revenue was down 25.8% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.72%. United Community Banks’s dividend payout ratio is presently 59.35%.

Institutional Investors Weigh In On United Community Banks

Institutional investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC lifted its stake in United Community Banks by 97.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares in the last quarter. Carmel Capital Partners LLC bought a new stake in United Community Banks in the 3rd quarter valued at approximately $36,000. Belpointe Asset Management LLC lifted its stake in United Community Banks by 113.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 735 shares in the last quarter. State of Wyoming lifted its stake in United Community Banks by 25.9% in the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in United Community Banks in the 4th quarter valued at approximately $72,000. Institutional investors own 82.29% of the company’s stock.

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.