Overview
U.S. bank's Q4 revenue rose 11% yr/yr, beating analyst expectations
Adjusted EPS for Q4 met analyst expectations
Company repurchased 1 mln shares and redeemed $35 mln of senior debt
Outlook
United Community Banks expects strong economic conditions to continue in its markets
Company anticipates continued effective execution across all business lines
Result Drivers
NET INTEREST MARGIN - Improved asset mix and deposit pricing led to a 36 basis point increase in net interest margin year-over-year
LOAN GROWTH - Strong loan production contributed to a $209 mln increase in loans from the third quarter
CREDIT LOSS PROVISION - Provision for credit losses increased to $13.7 mln, up from $11.4 mln a year ago and $7.9 mln in the third quarter
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $278.40 mln | $273.56 mln (6 Analysts) |
Q4 Adjusted EPS | Meet | $0.71 | $0.71 (7 Analysts) |
Q4 EPS | $0.70 | ||
Q4 Net Income | $86.46 mln | ||
Q4 Credit Loss Provision | $13.66 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for United Community Banks Inc is $35.00, about 7.8% above its January 13 closing price of $32.48
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nGNX5PGdF
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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