Other analysts also recently issued reports about the company. Hovde Group downgraded United Community Banks from an “outperform” rating to a “market perform” rating and set a $33.00 price objective for the company. in a research report on Monday, December 16th. ValuEngine downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. SunTrust Banks boosted their target price on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Stephens restated a “hold” rating and issued a $29.00 price target on shares of United Community Banks in a research report on Tuesday, October 22nd. Finally, Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.60.
Shares of UCBI stock traded up $0.43 during trading hours on Tuesday, reaching $30.20. The company’s stock had a trading volume of 6,731 shares, compared to its average volume of 486,917. United Community Banks has a fifty-two week low of $23.21 and a fifty-two week high of $31.66. The firm’s 50 day simple moving average is $30.71 and its 200-day simple moving average is $28.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 13.96 and a beta of 1.28.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. United Community Banks had a return on equity of 12.24% and a net margin of 27.87%. The business had revenue of $148.37 million during the quarter, compared to the consensus estimate of $143.91 million. During the same period in the prior year, the company earned $0.55 EPS. United Community Banks’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that United Community Banks will post 2.36 earnings per share for the current year.
In other news, CAO Alan H. Kumler sold 3,000 shares of United Community Banks stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $30.67, for a total transaction of $92,010.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of UCBI. Northern Trust Corp increased its holdings in United Community Banks by 10.6% during the 2nd quarter. Northern Trust Corp now owns 1,403,585 shares of the financial services provider’s stock worth $40,086,000 after purchasing an additional 134,240 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of United Community Banks in the 2nd quarter worth about $34,944,000. Macquarie Group Ltd. purchased a new stake in United Community Banks during the second quarter worth about $31,396,000. Bank of America Corp DE increased its holdings in United Community Banks by 5.3% during the second quarter. Bank of America Corp DE now owns 919,764 shares of the financial services provider’s stock worth $26,269,000 after buying an additional 45,983 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in United Community Banks by 6.7% during the third quarter. Russell Investments Group Ltd. now owns 458,261 shares of the financial services provider’s stock worth $12,992,000 after buying an additional 28,736 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.
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.
Read More: Risk Tolerance
Receive News & Ratings for United Community Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks and related companies with MarketBeat.com's FREE daily email newsletter.