StockNews.com upgraded shares of United Community Banks (NASDAQ:UCBI – Get Rating) from a sell rating to a hold rating in a research note published on Friday morning.
Several other equities analysts also recently issued reports on the company. Piper Sandler reduced their price objective on United Community Banks to $36.00 in a research report on Friday, July 22nd. Truist Financial lowered their price target on United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th.
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Shares of NASDAQ UCBI opened at $32.53 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.74 and a quick ratio of 0.74. 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 1-year low of $27.62 and a 1-year high of $39.32. The business's fifty day moving average price is $33.13 and its two-hundred day moving average price is $32.79.
United Community Banks (NASDAQ:UCBI – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The firm had revenue of $212.36 million during the quarter, compared to analyst estimates 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 revenue was up 21.9% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, research analysts expect that United Community Banks will post 2.65 EPS for the current year.United Community Banks Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 14th. This is a boost from United Community Banks's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.71%. United Community Banks's dividend payout ratio (DPR) is 34.85%.
Institutional Trading of United Community Banks
Several institutional investors have recently modified their holdings of UCBI. Raleigh Capital Management Inc. bought a new stake in United Community Banks in the first quarter worth about $26,000. Eagle Bay Advisors LLC grew its stake in shares of United Community Banks by 97.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider's stock worth $29,000 after purchasing an additional 474 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of United Community Banks by 87.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,123 shares of the financial services provider's stock worth $39,000 after purchasing an additional 524 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in United Community Banks during the first quarter valued at approximately $54,000. Finally, Lazard Asset Management LLC boosted its holdings in United Community Banks by 54.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider's stock worth $57,000 after buying an additional 563 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company's stock.
United Community Banks Company Profile
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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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