Analysts Set United Community Banks, Inc. (NASDAQ:UCBI) Target Price at $29.33

United Community Banks, Inc. (NASDAQ:UCBI) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.33.

A number of research firms recently commented on UCBI. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. ValuEngine cut shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. DA Davidson began coverage on shares of United Community Banks in a report on Tuesday. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research cut shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in United Community Banks by 0.6% during the 1st quarter. BlackRock Inc. now owns 11,715,455 shares of the financial services provider’s stock valued at $292,067,000 after acquiring an additional 67,101 shares during the period. Dimensional Fund Advisors LP raised its holdings in United Community Banks by 13.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock valued at $73,107,000 after acquiring an additional 398,806 shares during the period. FMR LLC raised its holdings in United Community Banks by 66.4% during the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after acquiring an additional 1,125,516 shares during the period. Janus Henderson Group PLC raised its holdings in United Community Banks by 10.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,839,743 shares of the financial services provider’s stock valued at $52,543,000 after acquiring an additional 175,070 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in United Community Banks by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,417,298 shares of the financial services provider’s stock valued at $35,333,000 after acquiring an additional 9,689 shares during the period. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ UCBI traded down $0.95 during midday trading on Friday, reaching $25.70. The company’s stock had a trading volume of 287,893 shares, compared to its average volume of 331,422. United Community Banks has a 12-month low of $20.23 and a 12-month high of $30.97. The firm has a 50 day moving average price of $27.61 and a 200-day moving average price of $27.28. The stock has a market capitalization of $2.10 billion, a P/E ratio of 12.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.84.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $142.32 million for the quarter, compared to the consensus estimate of $142.30 million. United Community Banks had a return on equity of 12.24% and a net margin of 27.88%. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities analysts predict that United Community Banks will post 2.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.65%. United Community Banks’s payout ratio is 31.78%.

About United Community Banks

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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