Shares of United Community Banks, Inc. (NYSE:UCB – Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $37.24 and last traded at $37.1780, with a volume of 1,760,208 shares traded. The stock had previously closed at $35.85.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Wall Street Zen raised United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. DA Davidson boosted their target price on United Community Banks from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Piper Sandler increased their target price on shares of United Community Banks from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings restated a “buy (b)” rating on shares of United Community Banks in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of United Community Banks from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.00.
Get Our Latest Stock Report on UCB
United Community Banks Stock Up 3.7%
The firm’s fifty day moving average price is $34.73 and its 200-day moving average price is $34.36. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 31.51 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.78 and a quick ratio of 0.83.
United Community Banks (NYSE:UCB – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $291.90 million for the quarter. United Community Banks had a return on equity of 9.66% and a net margin of 9.06%. Sell-side analysts expect that United Community Banks, Inc. will post 2.99 earnings per share for the current fiscal year.
United Community Banks Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th were given a $0.26 dividend. This is a boost from United Community Banks’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, September 15th. United Community Banks’s dividend payout ratio is 88.14%.
Insider Transactions at United Community Banks
In other news, EVP Richard Bradshaw sold 1,424 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 83,228 shares of the company’s stock, valued at $2,920,470.52. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jefferson L. Harralson sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total transaction of $885,250.00. Following the completion of the transaction, the executive vice president owned 37,433 shares of the company’s stock, valued at approximately $1,325,502.53. This trade represents a 40.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.45% of the company’s stock.
Institutional Investors Weigh In On United Community Banks
Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in United Community Banks by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,520,132 shares of the company’s stock worth $205,315,000 after acquiring an additional 182,397 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of United Community Banks during the second quarter valued at $55,195,000. Principal Financial Group Inc. lifted its holdings in shares of United Community Banks by 32.3% during the first quarter. Principal Financial Group Inc. now owns 766,598 shares of the company’s stock worth $24,140,000 after purchasing an additional 187,210 shares during the period. Bank of America Corp DE lifted its holdings in shares of United Community Banks by 27.6% during the first quarter. Bank of America Corp DE now owns 747,576 shares of the company’s stock worth $23,541,000 after purchasing an additional 161,848 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of United Community Banks by 10.1% during the first quarter. Sei Investments Co. now owns 446,292 shares of the company’s stock worth $14,054,000 after purchasing an additional 40,782 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.
About United Community Banks
United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.
United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.
Read More
- Five stocks we like better than United Community Banks
- Is Texas Instruments Setting Up for Its Next Big Breakout?
- Pegasystems’ Q3 Miss Exposed the Problem Standing Between AI and Cash Flow
- Lam Research’s Earnings Beat Wasn’t the Real Story—Its 2027 Outlook Was
- Tesla’s Flying-Car Hype Hits an Earnings Reality Check
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.
