BidaskClub upgraded shares of United Community Banks (NASDAQ:UCBI) from a sell rating to a hold rating in a research note published on Tuesday.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of United Community Banks from a buy rating to a hold rating and set a $31.00 price objective for the company. in a research note on Saturday, January 6th. ValuEngine downgraded shares of United Community Banks from a buy rating to a hold rating in a report on Tuesday, November 14th. Finally, SunTrust Banks reiterated a buy rating and issued a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $31.00.
United Community Banks (UCBI) traded down $0.23 during mid-day trading on Tuesday, hitting $30.63. 338,300 shares of the company traded hands, compared to its average volume of 599,200. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.80 and a current ratio of 0.81. United Community Banks has a 1-year low of $24.47 and a 1-year high of $31.37. The firm has a market cap of $2,265.28, a price-to-earnings ratio of 20.70 and a beta of 0.89.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The business had revenue of $109.35 million during the quarter, compared to analyst estimates of $114.65 million. During the same quarter in the previous year, the business earned $0.36 EPS. United Community Banks’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts anticipate that United Community Banks will post 1.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.40 annualized dividend and a yield of 1.31%. United Community Banks’s dividend payout ratio (DPR) is presently 27.03%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zions Bancorporation bought a new position in United Community Banks in the 3rd quarter worth $115,000. Riverhead Capital Management LLC raised its holdings in United Community Banks by 134.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,090 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in United Community Banks in the 3rd quarter worth $200,000. Magnetar Financial LLC bought a new position in United Community Banks in the 3rd quarter worth $201,000. Finally, Palouse Capital Management Inc. bought a new position in United Community Banks in the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.
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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.
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