United Community Banks, Inc. (NASDAQ:UCBI) – SunTrust Banks lifted their Q3 2020 earnings estimates for United Community Banks in a research note issued on Tuesday, June 30th. SunTrust Banks analyst J. Demba now expects that the financial services provider will earn $0.42 per share for the quarter, up from their previous forecast of $0.40. SunTrust Banks also issued estimates for United Community Banks’ Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $1.67 EPS, Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.54 EPS, Q3 2021 earnings at $0.56 EPS, Q4 2021 earnings at $0.54 EPS and FY2021 earnings at $2.10 EPS.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Wednesday, June 24th. BidaskClub raised shares of United Community Banks from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. ValuEngine downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Tuesday, March 24th. Finally, DA Davidson raised shares of United Community Banks from a “neutral” rating to a “buy” rating and reduced their price target for the company from $32.50 to $23.50 in a report on Tuesday, March 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. United Community Banks currently has an average rating of “Hold” and an average price target of $25.70.
United Community Banks (NASDAQ:UCBI) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). United Community Banks had a net margin of 25.98% and a return on equity of 11.07%. The firm had revenue of $144.42 million during the quarter, compared to analyst estimates of $141.58 million. During the same quarter in the previous year, the business posted $0.56 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its holdings in United Community Banks by 21.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,429 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 609 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in United Community Banks by 2.5% during the 4th quarter. Mason Street Advisors LLC now owns 27,510 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 658 shares during the last quarter. Amalgamated Bank lifted its holdings in United Community Banks by 8.2% during the 4th quarter. Amalgamated Bank now owns 13,425 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 1,023 shares during the last quarter. Legal & General Group Plc lifted its holdings in United Community Banks by 0.5% during the 1st quarter. Legal & General Group Plc now owns 231,010 shares of the financial services provider’s stock valued at $4,230,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in United Community Banks by 2.0% in the 1st quarter. Martingale Asset Management L P now owns 62,050 shares of the financial services provider’s stock valued at $1,137,000 after acquiring an additional 1,193 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.
In other United Community Banks news, Director Thomas A. Richlovsky acquired 4,000 shares of United Community Banks stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $19.49 per share, with a total value of $77,960.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at $77,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, June 12th. United Community Banks’s payout ratio is 30.25%.
United Community Banks Company Profile
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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