Zacks: Analysts Expect United Community Banks, Inc. (UCBI) Will Post Quarterly Sales of $142.20 Million

Brokerages expect United Community Banks, Inc. (NASDAQ:UCBI) to post $142.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for United Community Banks’ earnings. The highest sales estimate is $143.80 million and the lowest is $139.80 million. United Community Banks reported sales of $131.82 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The business is expected to announce its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that United Community Banks will report full-year sales of $571.30 million for the current financial year, with estimates ranging from $564.10 million to $576.70 million. For the next year, analysts expect that the company will post sales of $600.70 million, with estimates ranging from $591.50 million to $605.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow United Community Banks.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS.

A number of brokerages recently issued reports on UCBI. Zacks Investment Research raised United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. BidaskClub raised United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, ValuEngine cut United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. United Community Banks currently has a consensus rating of “Hold” and a consensus target price of $30.17.

Shares of UCBI opened at $26.74 on Friday. The stock has a market cap of $2.13 billion, a P/E ratio of 12.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.83. United Community Banks has a 52-week low of $20.23 and a 52-week high of $34.18.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be issued a $0.17 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.54%. This is a boost from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s dividend payout ratio (DPR) is presently 29.91%.

Several large investors have recently added to or reduced their stakes in UCBI. FMR LLC raised its holdings in shares of United Community Banks by 66.4% in the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after acquiring an additional 1,125,516 shares in the last quarter. Norges Bank purchased a new stake in shares of United Community Banks in the 4th quarter valued at about $16,187,000. Janus Henderson Group PLC raised its holdings in shares of United Community Banks by 76.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,664,673 shares of the financial services provider’s stock valued at $41,500,000 after acquiring an additional 718,910 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of United Community Banks in the 4th quarter valued at about $30,000. Finally, Millennium Management LLC raised its holdings in shares of United Community Banks by 107.0% in the 4th quarter. Millennium Management LLC now owns 1,037,312 shares of the financial services provider’s stock valued at $22,261,000 after acquiring an additional 536,075 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for United Community Banks (NASDAQ:UCBI)

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