United Community Banks (NASDAQ:UCBI) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of United Community Banks (NASDAQ:UCBI) from a sell rating to a hold rating in a report published on Thursday.

Several other research firms also recently commented on UCBI. Truist Financial boosted their target price on United Community Banks from $26.00 to $31.00 and gave the stock a hold rating in a report on Thursday. Piper Sandler dropped their target price on United Community Banks from $30.00 to $28.00 and set a neutral rating on the stock in a report on Thursday, April 25th. DA Davidson boosted their target price on United Community Banks from $32.00 to $35.00 and gave the stock a buy rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price target on United Community Banks from $28.00 to $32.00 and gave the company a market perform rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $31.50.

United Community Banks Trading Up 1.1 %

NASDAQ UCBI opened at $31.51 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. United Community Banks has a twelve month low of $21.63 and a twelve month high of $31.96. The firm has a market capitalization of $3.75 billion, a PE ratio of 20.46 and a beta of 0.91. The stock’s 50 day moving average is $26.17 and its 200 day moving average is $26.33.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The business had revenue of $347.00 million for the quarter, compared to the consensus estimate of $238.95 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts forecast that United Community Banks will post 2.16 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, June 14th. United Community Banks’s payout ratio is currently 59.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UCBI. GAMMA Investing LLC purchased a new stake in United Community Banks during the fourth quarter valued at $72,000. SG Americas Securities LLC purchased a new stake in United Community Banks during the fourth quarter valued at $115,000. FinTrust Capital Advisors LLC increased its position in United Community Banks by 12.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 500 shares during the last quarter. TFO Wealth Partners LLC increased its position in United Community Banks by 111,360.0% during the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 5,568 shares during the last quarter. Finally, Strs Ohio increased its position in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 900 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

United Community Banks Company Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.