United Community Banks Inc reports results for the quarter ended in March - Earnings Summary

United Community Banks

24/04/2024 15:56

* United Community Banks Inc  UCBI.OQ  reported quarterly
adjusted
earnings of 52 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 58 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 49 cents per share. Wall Street
expected results to range from 46 cents to 53 cents per share.
    * Revenue rose 2.7% to $225.84 million from a year ago;
analysts
expected $232.02 million. 
    * United Community Banks Inc's reported EPS for the quarter
was 51
cents​.
    * The company reported quarterly net income of $60.71
million.
    * United Community Banks Inc shares had fallen by 0.5% this
quarter and lost 10.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.7%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for United Community
Banks Inc is $30.00 
This summary was machine generated from LSEG data April 24 at
02:56 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.49           0.52           Beat
 Dec. 31 2023      0.52           0.53           Beat
 Sep. 30 2023      0.45           0.45           Met
 Jun. 30 2023      0.61           0.55           Missed