What is DA Davidson’s Forecast for UCB FY2024 Earnings?

United Community Banks, Inc. (NASDAQ:UCB) – Equities research analysts at DA Davidson lowered their FY2024 earnings per share estimates for shares of United Community Banks in a report released on Thursday, October 24th. DA Davidson analyst G. Tenner now forecasts that the company will earn $2.26 per share for the year, down from their previous estimate of $2.29. The consensus estimate for United Community Banks’ current full-year earnings is $2.25 per share.

Several other brokerages also recently weighed in on UCB. Piper Sandler reduced their target price on United Community Banks from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial reduced their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday.

United Community Banks Trading Down 2.1 %

United Community Banks stock opened at $27.65 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 17.84 and a beta of 0.89. The stock has a 50 day moving average of $28.99. United Community Banks has a 12 month low of $21.63 and a 12 month high of $31.96.

United Community Banks (NASDAQ:UCB) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The company had revenue of $384.39 million during the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the prior year, the company posted $0.45 EPS.

United Community Banks Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.47%. This is an increase from United Community Banks’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, September 16th. United Community Banks’s dividend payout ratio is presently 61.94%.

United Community Banks Company Profile

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