United Community Banks, Inc. (NASDAQ: UCBI) Expected to Post Fiscal 2021 Earnings of $ 3.11 Per Share
United Community Banks, Inc. (NASDAQ: UCBI) – Stock researchers at Truist Securiti increased their estimates of earnings per share for fiscal 2021 for United Community Banks in a research note released to investors on Thursday, October 21. Truist Securiti analyst J. Demba now predicts the financial services provider will post earnings per share of $ 3.11 for the year, up from its previous estimate of $ 2.84. Truist Securiti also released estimates for United Community Banks fourth quarter 2021 earnings at $ 0.65 per share, first quarter 2022 earnings at $ 0.54 per share, second quarter 2022 earnings at 0.67. $ Per share, third quarter 2022 earnings at $ 0.70 per share, fourth quarter 2022 earnings at $ 0.72 per share, and full year 2022 earnings at $ 2.63 per share.
A number of other research analysts have also recently published reports on the company. Zacks Investment Research downgraded United Community Banks from a “custody” rating to a “buy” rating and set a price target of $ 40.00 for the stock in a research note on Saturday. Raymond James raised his price target on United Community Banks from $ 36.00 to $ 38.00 and gave the stock an “outperformance” rating in a report released Thursday.
The NASDAQ UCBI opened at $ 35.74 on Monday. The company’s 50-day mobile average price is $ 30.88, and its two-hundred-day mobile average price is $ 31.94. United Community Banks has a 12-month low of $ 19.87 and a 12-month high of $ 36.67. The company has a market cap of $ 3.10 billion, a PE ratio of 12.86 and a beta of 1.26. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt ratio of 0.13. United Community Banks (NASDAQ: UCBI) last released its quarterly earnings data on Monday, October 18. The financial services provider reported EPS of $ 0.83 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.66 of $ 0.17. United Community Banks had a net margin of 33.15% and a return on equity of 13.28%. During the same period of the previous year, the company reported earnings per share of $ 0.55.
A number of institutional investors have recently changed their holdings of equities. FORA Capital LLC purchased a new position in United Community Banks in the first quarter valued at approximately $ 32,000. Advisory Services Network LLC acquired a new position in United Community Banks during the second quarter for a value of $ 33,000. Captrust Financial Advisors increased its stake in United Community Banks by 289.0% during the first quarter. Captrust Financial Advisors now owns 2,863 shares of the financial services provider valued at $ 98,000 after acquiring an additional 2,127 shares in the last quarter. StoneX Group Inc. acquired a new position in United Community Banks during the first quarter valued at $ 210,000. Finally, Hotaling Investment Management LLC purchased a new position in United Community Banks during the third quarter for a value of $ 202,000. Institutional investors hold 89.36% of the shares of the company.
In other United Community Banks news, director Robert H. Blalock bought 3,000 shares of the company in a transaction that took place on Thursday, August 12. The stock was purchased at an average price of $ 31.16 per share, for a total value of $ 93,480.00. As a result of the purchase, the Director now directly owns 28,028 shares of the company, valued at approximately $ 873,352.48. The purchase was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Additionally, CEO H Lynn Harton sold 10,000 shares in a trade on Friday, October 1. The stock was sold for an average price of $ 32.95, for a total value of $ 329,500.00. Disclosure of this sale can be found here. Company insiders own 0.62% of the company’s shares.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 5. Shareholders of record on Wednesday September 15 received a dividend of $ 0.20 per share. The ex-dividend date of this dividend was Tuesday, September 14. This is a boost from United Community Banks’ previous quarterly dividend of $ 0.19. This represents an annualized dividend of $ 0.80 and a dividend yield of 2.24%. United Community Banks’ dividend payout ratio is currently 40.40%.
United Community Banks Company Profile
United Community Banks, Inc is a banking holding company that provides banking services to consumers and businesses. The firm is aimed at individuals and small and medium-sized businesses. It offers checking, savings, mortgage, borrowing, digital baking, credit card and investing services.
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