United Community Banks, Inc.United Community Banks missed analysts' EPS estimates for Q2 despite revenue growth, with the stock down 4.6% since reporting.
United Community Banks reported second-quarter revenues of $280.5 million, up 7.4% year on year, in line with analysts' expectations but marked by a significant miss of analysts' EPS estimates and net interest income in line with estimates. The stock is down 4.6% since reporting and currently trades at $34.38. Among the 94 regional banks stocks tracked, revenues as a group beat analysts' consensus estimates by 0.6%, while share prices on average are down 6.7% since the latest earnings results. OFG Bancorp posted the strongest quarter, with revenues of $190.3 million, up 4.4% year on year and outperforming expectations by 3.9%, while Banc of California was the weakest, with revenues of $285.7 million, up 4.7% but falling short of expectations by 3.1% and a stock down 18.3% since results. Dime Community Bancshares reported revenues of $128.4 million, up 17.2% and beating expectations by 4.1%, and Seacoast Banking reported revenues of $210 million, up 38.4% year on year, meeting analysts' expectations.
United Community Banks, Inc.United Community Banks missed analysts' EPS estimates for Q2 despite revenue growth, with the stock down 4.6% since reporting.
Banc of California, Inc.Banc of California was the weakest regional bank, with revenue falling short of expectations by 3.1% and its stock down 18.3% since results.
Dime Community Bancshares, Inc.Dime Community Bancshares reported revenues of $128.4 million, up 17.2% and beating expectations by 4.1%.
OFG BancorpOFG Bancorp posted the strongest quarter, with revenues up 4.4% year on year and outperforming expectations by 3.9%.
Seacoast Banking Corporation of FloridaSeacoast Banking reported revenues of $210 million, up 38.4% year on year but merely meeting analysts' expectations.