United Community Banks Posts $280.5 Million Q2 Revenue, Misses EPS Estimates

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2▲2 ▼2Impact / 5
Summary · why it matters

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.

Impact on assets 5

Financials± Mixed · 5 stocks
United Community Banks, Inc.
UCB
▼ NegativeCapitalrelevance

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
▼ NegativeCapitalrelevance

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.

OFG Bancorp
OFG
▲ PositiveCapitalrelevance

OFG Bancorp posted the strongest quarter, with revenues up 4.4% year on year and outperforming expectations by 3.9%.