United Community Banks, Inc. to Post FY2023 Earnings of $3.13 Per Share, DA Davidson Forecasts (NASDAQ:UCBI)

United Community Banks, Inc. (NASDAQ:UCBIGet Rating) – Stock analysts at DA Davidson lowered their FY2023 earnings per share estimates for shares of United Community Banks in a research note issued to investors on Thursday, January 19th. DA Davidson analyst K. Fitzsimmons now forecasts that the financial services provider will post earnings of $3.13 per share for the year, down from their prior forecast of $3.44. The consensus estimate for United Community Banks’ current full-year earnings is $3.08 per share.

A number of other brokerages also recently issued reports on UCBI. Piper Sandler reduced their price target on United Community Banks from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com cut United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Janney Montgomery Scott cut United Community Banks from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Truist Financial cut their price objective on United Community Banks from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.00.

United Community Banks Stock Up 2.9 %

Shares of NASDAQ:UCBI opened at $31.92 on Monday. United Community Banks has a 1 year low of $27.85 and a 1 year high of $39.50. The company has a market cap of $3.39 billion, a PE ratio of 12.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.78 and a quick ratio of 0.73. The stock’s 50-day moving average is $35.25 and its 200 day moving average is $34.73.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.88 annualized dividend and a yield of 2.76%. United Community Banks’s dividend payout ratio (DPR) is presently 34.92%.

Hedge Funds Weigh In On United Community Banks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UCBI. Eagle Bay Advisors LLC lifted its position 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. Assetmark Inc. raised its stake in United Community Banks by 139.1% during the 2nd quarter. Assetmark Inc. now owns 2,369 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,378 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in United Community Banks during the 2nd quarter valued at $123,000. FinTrust Capital Advisors LLC raised its stake in United Community Banks by 12.8% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 4,270 shares of the financial services provider’s stock valued at $137,000 after buying an additional 483 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after buying an additional 351 shares during the last quarter. 85.41% of the stock is owned by institutional investors.

United Community Banks Company Profile

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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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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