United Community Banks, a leading financial institution, announced on February 23, 2024, that its board of directors has declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). This dividend represents a steady payout compared to the previous quarter. Shareholders must purchase shares before the ex-dividend date of March 14, 2024, to qualify for the upcoming payment scheduled for April 5, 2024.
With the current share price at $25.65 per share, the stock’s dividend yield stands at 3.59%, which is notably higher than the historical average of 2.85%. The company’s dividend payout ratio of 0.58 indicates a healthy balance between dividend payments and retained earnings for future growth.
In terms of fund sentiment, there are 566 funds or institutions reporting positions in United Community Banks, with a slight increase in ownership in the last quarter. The put/call ratio of 0.81 suggests a bullish outlook for the stock.
Analyst price forecasts indicate a potential upside of 23.84% for United Community Banks, with an average one-year price target of $31.77. The company is projected to see a significant increase in annual revenue and non-GAAP EPS.
In terms of shareholder activity, notable funds like iShares Core S&P Small-Cap ETF and Neuberger Berman Group have decreased their holdings in UCBI, while Earnest Partners and Vanguard Total Stock Market Index Fund Investor Shares have increased their positions.
United Community Banks, with $17.8 billion in assets, is known for its exceptional customer service and personalized banking services across the Southeast. The company has received numerous accolades for its performance and customer satisfaction, making it a standout in the banking industry.