Stock Analysis
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- NasdaqGS:UCBI
United Community Banks First Quarter 2024 Earnings: Beats Expectations
United Community Banks (NASDAQ:UCBI) First Quarter 2024 Results
Key Financial Results
- Revenue: US$225.8m (up 2.7% from 1Q 2023).
- Net income: US$60.7m (flat on 1Q 2023).
- Profit margin: 27% (in line with 1Q 2023).
- EPS: US$0.51.
All figures shown in the chart above are for the trailing 12 month (TTM) period
United Community Banks Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%.
Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 7.2% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for United Community Banks that you need to take into consideration.
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About NasdaqGS:UCBI
United Community Banks
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.