Equities research analysts forecast that United Community Banks, Inc. (NASDAQ:UCBI) will report sales of $144.08 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for United Community Banks’ earnings, with estimates ranging from $141.22 million to $146.60 million. United Community Banks reported sales of $137.92 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The company is expected to issue its next quarterly earnings report on Tuesday, January 28th.
According to Zacks, analysts expect that United Community Banks will report full year sales of $569.81 million for the current fiscal year, with estimates ranging from $562.42 million to $573.80 million. For the next fiscal year, analysts expect that the firm will post sales of $585.41 million, with estimates ranging from $578.44 million to $593.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow United Community Banks.
United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $148.37 million during the quarter, compared to the consensus estimate of $143.91 million. United Community Banks had a return on equity of 12.24% and a net margin of 27.87%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share.
United Community Banks stock traded down $0.05 during mid-day trading on Friday, reaching $30.85. The stock had a trading volume of 144,307 shares, compared to its average volume of 423,496. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.42 and a beta of 1.28. The company has a 50-day moving average price of $31.01 and a two-hundred day moving average price of $28.62. United Community Banks has a one year low of $20.23 and a one year high of $31.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.85 and a quick ratio of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.33%. This is a boost from United Community Banks’s previous quarterly dividend of $0.17. United Community Banks’s payout ratio is currently 33.64%.
In other news, CAO Alan H. Kumler sold 2,924 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $31.00, for a total transaction of $90,644.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in UCBI. UBS Asset Management Americas Inc. lifted its position in United Community Banks by 5.1% during the second quarter. UBS Asset Management Americas Inc. now owns 72,467 shares of the financial services provider’s stock valued at $2,070,000 after purchasing an additional 3,502 shares during the period. California Public Employees Retirement System raised its stake in United Community Banks by 31.8% during the 3rd quarter. California Public Employees Retirement System now owns 217,995 shares of the financial services provider’s stock valued at $6,180,000 after buying an additional 52,655 shares during the last quarter. Russell Investments Group Ltd. raised its stake in United Community Banks by 6.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 458,261 shares of the financial services provider’s stock valued at $12,992,000 after buying an additional 28,736 shares during the last quarter. Boston Advisors LLC raised its stake in United Community Banks by 67.9% during the 3rd quarter. Boston Advisors LLC now owns 77,192 shares of the financial services provider’s stock valued at $2,188,000 after buying an additional 31,223 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of United Community Banks by 14.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 598,032 shares of the financial services provider’s stock valued at $17,080,000 after buying an additional 77,573 shares during the period. Hedge funds and other institutional investors own 90.86% of the company’s stock.
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.
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