Truist Financial Boosts United Community Banks (NASDAQ:UCB) Price Target to $32.00

United Community Banks (NASDAQ:UCB) had its target price raised by Truist Financial from $31.00 to $32.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

United Community Banks Trading Down 2.6 %

Shares of NASDAQ UCB opened at $29.54 on Friday. The stock has a market cap of $3.52 billion, a PE ratio of 14.03 and a beta of 0.89. United Community Banks has a 1 year low of $21.63 and a 1 year high of $31.96. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $245.26 million during the quarter, compared to analysts’ expectations of $237.80 million. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. On average, research analysts anticipate that United Community Banks will post 2.25 EPS for the current fiscal year.

United Community Banks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 16th. This is a boost from United Community Banks’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.25%.

About United Community Banks

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.