United Community Banks, Inc. (UCBI) Given Average Recommendation of “Buy” by Brokerages

Shares of United Community Banks, Inc. (NASDAQ:UCBI) have been assigned an average rating of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.71.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Stephens reiterated a “hold” rating and issued a $30.00 target price on shares of United Community Banks in a report on Tuesday, June 27th. BidaskClub cut shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. FIG Partners upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Wednesday, August 16th. Finally, Raymond James Financial, Inc. decreased their target price on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Thursday, July 27th.

In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the transaction, the executive vice president now directly owns 16,858 shares in the company, valued at $439,319.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.18% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Riverhead Capital Management LLC boosted its holdings in shares of United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after buying an additional 3,090 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of United Community Banks in the first quarter worth about $168,000. Fox Run Management L.L.C. acquired a new stake in shares of United Community Banks during the second quarter worth approximately $211,000. PNC Financial Services Group Inc. boosted its holdings in shares of United Community Banks by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 295 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of United Community Banks by 1.5% during the second quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 140 shares during the period. Institutional investors own 86.71% of the company’s stock.

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Shares of United Community Banks (UCBI) opened at 28.65 on Wednesday. United Community Banks has a one year low of $20.26 and a one year high of $30.47. The stock has a market cap of $2.03 billion, a P/E ratio of 19.62 and a beta of 0.87. The firm has a 50 day moving average of $26.78 and a 200 day moving average of $27.12.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The company had revenue of $108.00 million during the quarter, compared to analyst estimates of $110.49 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that United Community Banks will post $1.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, September 14th. United Community Banks’s dividend payout ratio (DPR) is presently 27.40%.

About United Community Banks

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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