United Community Banks (NASDAQ:UCB) Shares Down 0.3% – Here’s What Happened

United Community Banks, Inc. (NASDAQ:UCB)’s stock price fell 0.3% during trading on Friday . The company traded as low as $32.82 and last traded at $33.21. 463,501 shares traded hands during trading, a decline of 20% from the average session volume of 579,644 shares. The stock had previously closed at $33.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UCB shares. Piper Sandler lowered their price objective on United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price target on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, October 25th.

United Community Banks Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $3.96 billion, a PE ratio of 21.56 and a beta of 0.92. The firm’s 50 day moving average is $31.08.

United Community Banks (NASDAQ:UCB) last released its earnings results on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $384.39 million during the quarter, compared to analysts’ expectations of $237.90 million. United Community Banks had a return on equity of 8.36% and a net margin of 13.04%. During the same quarter in the previous year, the business earned $0.45 EPS. On average, research analysts expect that United Community Banks, Inc. will post 2.23 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. United Community Banks’s payout ratio is 62.34%.

Insider Transactions at United Community Banks

In other news, CFO Jefferson L. Harralson sold 10,275 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.76, for a total transaction of $285,234.00. Following the transaction, the chief financial officer now owns 43,991 shares of the company’s stock, valued at approximately $1,221,190.16. This represents a 18.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

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.