StockNews.com downgraded shares of United Community Banks (NASDAQ:UCBI – Get Rating) from a hold rating to a sell rating in a report published on Thursday.
UCBI has been the subject of several other reports. Truist Financial decreased their target price on United Community Banks from $34.00 to $32.00 in a research report on Wednesday, June 15th. Piper Sandler decreased their target price on United Community Banks to $36.00 in a research report on Friday, July 22nd.
Get United Community Banks alerts:United Community Banks Stock Down 0.9 %
Shares of UCBI opened at $32.31 on Thursday. The company has a market cap of $3.42 billion, a PE ratio of 13.41 and a beta of 1.05. The business has a fifty day moving average of $32.90 and a 200 day moving average of $33.01. United Community Banks has a 52-week low of $27.62 and a 52-week high of $39.32. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.13.
United Community Banks (NASDAQ:UCBI – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The company had revenue of $212.36 million during the quarter, compared to the consensus estimate of $213.19 million. United Community Banks had a return on equity of 11.27% and a net margin of 30.10%. The firm's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, sell-side analysts expect that United Community Banks will post 2.65 EPS for the current year.United Community Banks Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be issued a $0.22 dividend. This is an increase from United Community Banks's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, September 14th. United Community Banks's payout ratio is presently 34.85%.
Institutional Trading of United Community Banks
Institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System bought a new stake in shares of United Community Banks in the first quarter valued at about $1,012,000. Victory Capital Management Inc. grew its stake in United Community Banks by 4.3% in the first quarter. Victory Capital Management Inc. now owns 1,048,908 shares of the financial services provider's stock valued at $36,391,000 after purchasing an additional 43,201 shares during the last quarter. Marks Group Wealth Management Inc purchased a new position in United Community Banks in the first quarter valued at about $205,000. Geode Capital Management LLC grew its stake in United Community Banks by 11.7% in the fourth quarter. Geode Capital Management LLC now owns 1,763,792 shares of the financial services provider's stock valued at $63,391,000 after purchasing an additional 185,209 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in United Community Banks by 10.8% in the first quarter. Crossmark Global Holdings Inc. now owns 8,314 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 810 shares during the last quarter. 84.78% of the stock is currently owned by institutional investors.
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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