United Community Banks (NASDAQ:UCBI – Get Rating) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.
A number of other analysts have also recently weighed in on the stock. Piper Sandler dropped their price objective on shares of United Community Banks to $36.00 in a report on Friday, July 22nd. Truist Financial reduced their target price on United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th.
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United Community Banks Stock Up 2.1 %
NASDAQ:UCBI opened at $32.53 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $33.13 and a 200-day moving average of $32.79. The firm has a market capitalization of $3.45 billion, a PE ratio of 13.50 and a beta of 1.04. United Community Banks has a 52 week low of $27.62 and a 52 week high of $39.32.
United Community Banks (NASDAQ:UCBI – Get Rating) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). United Community Banks had a return on equity of 11.27% and a net
margin of 30.10%. The company had revenue of $212.36 million for the quarter, compared to the consensus estimate of $213.19 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. United Community Banks's quarterly revenue was up 21.9% compared to the same quarter last year. Analysts predict that United Community Banks will post 2.65 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its holdings in United Community Banks by 6.8% during the first quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider's stock valued at $173,000 after purchasing an additional 351 shares during the last quarter. Profund Advisors LLC raised its holdings in United Community Banks by 4.3% in the 1st quarter. Profund Advisors LLC now owns 10,822 shares of the financial services provider's stock worth $377,000 after acquiring an additional 442 shares during the period. Family Legacy Inc. boosted its holdings in United Community Banks by 1.6% during the second quarter. Family Legacy Inc. now owns 27,669 shares of the financial services provider's stock valued at $858,000 after acquiring an additional 448 shares during the period. Eagle Bay Advisors LLC grew its position in shares of United Community Banks by 97.5% in the second quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 474 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of United Community Banks by 4.8% in the second quarter. Sequoia Financial Advisors LLC now owns 10,477 shares of the financial services provider's stock worth $316,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 84.78% of the company's stock.
About United Community Banks
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United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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