Fintel reports that on April 24, 2023, DA Davidson maintained coverage of United Community Banks (NASDAQ:UCBI) with a Buy recommendation.
Analyst Price Forecast Suggests 25.89% Upside
As of April 24, 2023, the average one-year price target for United Community Banks is 32.86. The forecasts range from a low of 29.29 to a high of $37.28. The average price target represents an increase of 25.89% from its latest reported closing price of 26.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for United Community Banks is 1,066MM, an increase of 23.04%. The projected annual non-GAAP EPS is 3.43.
United Community Banks Declares $0.23 Dividend
On February 22, 2023 the company declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Shareholders of record as of March 15, 2023 received the payment on April 5, 2023. Previously, the company paid $0.22 per share.
At the current share price of $26.10 / share, the stock’s dividend yield is 3.52%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.63%, the lowest has been 1.48%, and the highest has been 4.51%. The standard deviation of yields is 0.59 (n=236).
The current dividend yield is 1.53 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.36. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 608 funds or institutions reporting positions in United Community Banks. This is an increase of 24 owner(s) or 4.11% in the last quarter. Average portfolio weight of all funds dedicated to UCBI is 0.24%, a decrease of 3.32%. Total shares owned by institutions increased in the last three months by 1.19% to 111,358K shares. The put/call ratio of UCBI is 0.41, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 7,373K shares representing 6.40% ownership of the company. No change in the last quarter.
Earnest Partners holds 3,469K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 3,218K shares, representing an increase of 7.22%. The firm increased its portfolio allocation in UCBI by 0.43% over the last quarter.
Neuberger Berman Group holds 3,463K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 336K shares, representing an increase of 90.29%. The firm increased its portfolio allocation in UCBI by 887.06% over the last quarter.
Principal Financial Group holds 3,075K shares representing 2.67% ownership of the company. In it’s prior filing, the firm reported owning 3,201K shares, representing a decrease of 4.12%. The firm decreased its portfolio allocation in UCBI by 49.69% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,052K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 2,997K shares, representing an increase of 1.81%. The firm decreased its portfolio allocation in UCBI by 3.96% over the last quarter.
United Community Banks Background Information
(This description is provided by the company.)
United Community Banks, Inc. is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the largest full-service financial institutions in the Southeast, with $17.8 billion in assets, and 160 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. United Community Bank, United’s wholly-owned bank subsidiary, specializes in personalized community banking services for individuals, small businesses and companies throughout its geographic footprint, including Florida under the brand Seaside Bank and Trust. Services include a full range of consumer and commercial banking products, including mortgage, advisory, treasury management, and wealth management. Respected national research firms consistently recognize United for outstanding customer service. In 2020, J.D. Power ranked United highest in customer satisfaction with retail banking in the Southeast, marking six out of the last seven years United earned the coveted award. United was also named ‘Best Banks to Work For’ by American Banker in 2020 for the fourth year in a row based on employee satisfaction. Forbes included United in its inaugural list of the World’s Best Banks in 2019 and again in 2020. Forbes also recognized United on its 2020 list of the 100 Best Banks in America for the seventh consecutive year. United also received five Greenwich Excellence Awards in 2019 for excellence in Small Business Banking and Middle Market Banking, including a national award for Overall Satisfaction in Small Business Banking.
See all United Community Banks regulatory filings.
This story originally appeared on Fintel.
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