United Community Banks (UCBI) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
United Community Banks (UCBI) reported $236.67 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 11.5%. EPS of $0.55 for the same period compares to $0.66 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $240.15 million, representing a surprise of -1.45%. The company delivered an EPS surprise of -11.29%, with the consensus EPS estimate being $0.62.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how United Community Banks performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.37% versus the four-analyst average estimate of 3.5%.
Efficiency Ratio - Operating: 54.17% versus 54.2% estimated by three analysts on average.
Net charge-offs to average loans: 0.2% versus the three-analyst average estimate of 0.23%.
Average balance - Total interest-earning assets: $23.95 billion versus the two-analyst average estimate of $23.91 billion.
Net interest revenue: $200.29 million compared to the $208.05 million average estimate based on four analysts.
Total noninterest income: $36.39 million versus $32.13 million estimated by four analysts on average.
Net interest revenue (FTE): $201.29 million compared to the $209.86 million average estimate based on three analysts.
View all Key Company Metrics for United Community Banks here>>>
Shares of United Community Banks have returned +4.3% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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United Community Banks, Inc. (UCBI) : Free Stock Analysis Report
