United Community Banks (NYSE:UCB – Get Free Report) had its target price raised by Piper Sandler from $37.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 8.87% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th. TD Cowen upgraded United Community Banks to a “strong-buy” rating in a report on Thursday, July 16th. Wall Street Zen lowered United Community Banks from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, DA Davidson set a $42.00 target price on shares of United Community Banks in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, United Community Banks presently has a consensus rating of “Moderate Buy” and an average price target of $39.40.
Check Out Our Latest Analysis on UCB
United Community Banks Stock Down 1.1%
United Community Banks (NYSE:UCB – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. The firm had revenue of $279.28 million for the quarter. As a group, equities analysts expect that United Community Banks will post 2.94 EPS for the current fiscal year.
Insider Buying and Selling
In other United Community Banks news, EVP Richard Bradshaw sold 1,424 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $35.09, for a total value of $49,968.16. Following the sale, the executive vice president directly owned 83,228 shares of the company’s stock, valued at approximately $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jefferson L. Harralson sold 25,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total value of $885,250.00. Following the completion of the sale, the executive vice president directly owned 37,433 shares in the company, valued at approximately $1,325,502.53. This represents a 40.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is owned by company insiders.
Institutional Trading of United Community Banks
A number of institutional investors and hedge funds have recently bought and sold shares of UCB. Dimensional Fund Advisors LP grew its holdings in shares of United Community Banks by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,520,132 shares of the company’s stock valued at $205,315,000 after buying an additional 182,397 shares during the last quarter. California State Teachers Retirement System raised its holdings in United Community Banks by 3,935.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,578,047 shares of the company’s stock worth $195,734,000 after acquiring an additional 5,439,820 shares during the last quarter. Invesco Ltd. raised its holdings in United Community Banks by 7.4% in the 4th quarter. Invesco Ltd. now owns 1,805,308 shares of the company’s stock worth $56,362,000 after acquiring an additional 124,347 shares during the last quarter. Bank of New York Mellon Corp bought a new position in United Community Banks in the 2nd quarter valued at approximately $55,195,000. Finally, Norges Bank bought a new position in United Community Banks in the 4th quarter valued at approximately $48,450,000. 82.29% of the stock is currently owned by institutional investors.
About United Community Banks
United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.
In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.
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