United Community Banks (NASDAQ:UCBI) had its target price lowered by equities researchers at SunTrust Banks to $25.00 in a research report issued to clients and investors on Thursday, October 25th, The Fly reports. The firm currently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price target would indicate a potential downside of 3.25% from the company’s previous close. SunTrust Banks also issued estimates for United Community Banks’ Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.59 EPS and FY2019 earnings at $2.33 EPS. The analysts noted that the move was a valuation call.
Several other brokerages have also issued reports on UCBI. Zacks Investment Research upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. FIG Partners restated an “outperform” rating on shares of United Community Banks in a report on Thursday, September 20th. BidaskClub lowered shares of United Community Banks from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 28th. ValuEngine lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, Hovde Group set a $34.00 price target on shares of United Community Banks and gave the stock a “buy” rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. United Community Banks presently has an average rating of “Hold” and an average price target of $28.40.
Shares of UCBI stock traded up $0.38 on Thursday, hitting $25.84. 480,877 shares of the stock traded hands, compared to its average volume of 455,957. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 12.67 and a beta of 0.99. United Community Banks has a twelve month low of $22.83 and a twelve month high of $34.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42.
A number of large investors have recently modified their holdings of UCBI. Itau Unibanco Holding S.A. purchased a new stake in United Community Banks during the second quarter worth about $108,000. Mount Yale Investment Advisors LLC purchased a new stake in United Community Banks during the first quarter worth about $114,000. WINTON GROUP Ltd purchased a new stake in United Community Banks during the third quarter worth about $203,000. Intrust Bank NA purchased a new stake in shares of United Community Banks during the second quarter worth approximately $209,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of United Community Banks during the third quarter worth approximately $214,000. Institutional investors own 87.92% of the company’s stock.
About United Community Banks
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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