United munity Banks(US:UCBI) ZACKS·2024-07-24 14:35Core Insights - United Community Banks (UCBI) reported a revenue of $245.26 million for the quarter ended June 2024, marking a year-over-year increase of 3.6% and an EPS of $0.58 compared to $0.55 a year ago [4] - The company outperformed the Zacks Consensus Estimate of $237.8 million in revenue by 3.14% and delivered an EPS surprise of 13.73% against a consensus estimate of $0.51 [6] Financial Metrics - Efficiency Ratio - Operating: 57.1% compared to the average estimate of 59.8% from three analysts [1] - Net Interest Margin: 3.4% versus the estimated 3.2% by three analysts [1] - Net interest revenue (FTE): $209.76 million compared to the average estimate of $203.47 million from three analysts [1] - Total noninterest income: $36.56 million versus the estimated $35.70 million by three analysts [1] - Average balance of total interest-earning assets: $25.03 billion compared to the average estimate of $25.28 billion [1] - Total nonperforming assets: $116.72 million versus the estimated $108.90 million by two analysts [1] - Total nonperforming loans: $114.48 million compared to the average estimate of $105.83 million from two analysts [1] - Net charge-offs to average loans: 0.3%, matching the average estimate of 0.3% from three analysts [1] Stock Performance - Shares of United Community Banks have returned +20.9% over the past month, significantly outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]