United Community Banks (UCBI) Price Target Cut to $25.00

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United Community Banks (NASDAQ:UCBI) had its price objective lowered by research analysts at SunTrust Banks to $25.00 in a research note issued on Thursday, October 25th, The Fly reports. The firm presently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price target would indicate a potential downside of 2.65% from the stock’s current price. 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 analysts also recently weighed in on the company. BidaskClub downgraded United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Hovde Group set a $34.00 target price on United Community Banks and gave the company a “buy” rating in a research note on Monday, July 30th. FIG Partners reiterated an “outperform” rating on shares of United Community Banks in a research note on Thursday, September 20th. Finally, ValuEngine downgraded United Community Banks from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.40.

Shares of UCBI opened at $25.68 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 0.82. United Community Banks has a twelve month low of $22.83 and a twelve month high of $34.18. The firm has a market capitalization of $2.03 billion, a P/E ratio of 12.84 and a beta of 0.99.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. United Community Banks had a return on equity of 11.64% and a net margin of 19.16%. The company had revenue of $134.50 million for the quarter, compared to analyst estimates of $136.53 million. During the same period last year, the company posted $0.41 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Equities research analysts expect that United Community Banks will post 2.13 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of United Community Banks by 9.1% during the second quarter. Raymond James & Associates now owns 23,845 shares of the financial services provider’s stock valued at $731,000 after buying an additional 1,993 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of United Community Banks by 9.4% during the third quarter. State of Alaska Department of Revenue now owns 26,330 shares of the financial services provider’s stock valued at $734,000 after buying an additional 2,267 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of United Community Banks by 11.5% during the third quarter. Fifth Third Bancorp now owns 22,063 shares of the financial services provider’s stock valued at $615,000 after buying an additional 2,269 shares during the last quarter. Texas Permanent School Fund raised its holdings in United Community Banks by 4.8% during the third quarter. Texas Permanent School Fund now owns 49,796 shares of the financial services provider’s stock worth $1,389,000 after purchasing an additional 2,303 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in United Community Banks by 5.0% during the second quarter. Pinebridge Investments L.P. now owns 60,144 shares of the financial services provider’s stock worth $1,844,000 after purchasing an additional 2,879 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

United Community Banks Company Profile

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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The Fly

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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