Welcome to our dedicated page for United Community Banks news (Ticker: UCBI), a resource for investors and traders seeking the latest updates and insights on United Community Banks stock.
United Community Banks, Inc. (historically Nasdaq: UCBI and now NYSE: UCB) is the financial holding company for United Community, a commercial banking organization focused on customers and communities across the Southeast. This news page aggregates company announcements, earnings releases, dividend declarations, and other updates relevant to investors and followers of the bank.
United Community regularly issues quarterly earnings reports that detail net income, pre-tax pre-provision income, diluted earnings per share, net interest margin, efficiency ratio, and asset quality metrics. These releases often include management commentary on loan and deposit trends, credit quality, balance sheet strategy, and the economic environment in the company’s markets.
Visitors to this page will also find dividend announcements for United Community’s common stock and its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, with specific record and payment dates and per-share amounts. Other news items include scheduling notices for upcoming earnings releases and conference calls, where management discusses financial results, business highlights, and outlook.
Corporate developments are another key category of news. For example, the company has announced the transfer of its stock exchange listing from Nasdaq to the New York Stock Exchange, with new ticker symbols for its common and preferred depositary shares. Over time, United Community has also highlighted recognition from third parties such as J.D. Power, Forbes, American Banker, Greenwich, and Newsweek.
Investors, analysts, and customers can use this news feed to follow United Community’s financial performance, capital actions, and strategic milestones. Bookmarking this page provides a convenient way to review historical announcements and monitor new disclosures as they are released.
United Community Banks, Inc. (UCBI) has announced its decision to transfer the listing of its common stock and Depositary Shares from Nasdaq to the New York Stock Exchange (NYSE). The transition is set to take effect on August 6, 2024, with trading commencing at market open under new ticker symbols: 'UCB' for common stock and 'UCB PRI' for depositary shares.
CEO Lynn Harton expressed excitement about the move, citing the potential for greater visibility for the company and its shareholders. The company plans to celebrate this milestone by ringing The Opening Bell with its Board of Directors later in August. Chris Taylor, VP of Global Head of Listings and Services at NYSE Group, welcomed United Community Banks to the exchange, noting its fit among the NYSE's community of leading banks.
United Community Banks, Inc. (NASDAQ: UCBI) reported Q2 2024 net income of $66.6 million and pre-tax, pre-provision income of $98.2 million. Diluted EPS rose to $0.54, a 2% YoY increase. On an operating basis, EPS was $0.58, up 5% YoY. The rise was driven by higher net interest income and a lower provision for credit losses. Return on assets was 0.97% and return on equity was 7.53%.
Tangible common equity to tangible assets rose to 8.78%. Net interest margin increased by 17 basis points to 3.37%. Net charge-offs were $11.6 million or 0.26% of average loans. Nonperforming assets were 0.43% of total assets.
United plans to sell its investment in FinTrust Capital Advisors by Q3 2024 to focus on Private Banking, Retail, and Trust businesses. CEO Lynn Harton cited economic and election uncertainties affecting loan growth but expressed confidence in United’s strategic direction and shareholder value delivery.
United Community Banks (NASDAQ: UCBI) will release its second quarter 2024 financial results on Wednesday, July 24, 2024, before the stock market opens.
The company will also host a conference call on the same day at 11:00 a.m. EST to discuss its financial performance, business highlights, and future outlook.
Interested participants can pre-register for the call at https://dpregister.com/sreg/10190532/fcfa86e478 or dial in by calling 1-866-777-2509. It is recommended to join 15 minutes prior to the start time. The conference call will also be webcast and accessible via the 'Events and Presentations' section under 'News and Events' on the company's website, ucbi.com.
United Community Banks, a leading financial institution, announced on May 16, 2024, a quarterly cash dividend of $0.23 per share for its common stockholders, payable on July 5, 2024, to shareholders recorded by June 15, 2023. Additionally, the board approved a quarterly cash dividend of $429.6875 per share for its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, corresponding to $0.4296875 per depositary share, payable on June 15, 2024, to shareholders of record on May 31, 2024. United Community Banks operates 205 offices across six southeastern U.S. states and has assets totaling $27.3 billion as of March 31, 2024. The bank has earned numerous accolades, including J.D. Power’s best customer satisfaction award for the Southeast region for the tenth time in 2024.
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