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Truist Financial Lowers United Community Banks (NASDAQ:UCBI) Price Target to $32.00 – Defense World

Written by Amanda

United Community Banks (NASDAQ:UCBIGet Rating) had its target price lowered by analysts at Truist Financial from $34.00 to $32.00 in a report released on Wednesday, The Fly reports. Truist Financial’s target price suggests a potential upside of 11.54% from the company’s previous close.

Several other research firms have also recently weighed in on UCBI. Raymond James cut shares of United Community Banks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. StockNews.com raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Tuesday.

Shares of United Community Banks stock opened at $28.69 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.12. United Community Banks has a twelve month low of $27.62 and a twelve month high of $39.32. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 11.12 and a beta of 1.07. The company’s 50 day moving average is $30.85 and its 200 day moving average is $34.29.

United Community Banks (NASDAQ:UCBIGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The business had revenue of $202.77 million during the quarter, compared to the consensus estimate of $202.89 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts expect that United Community Banks will post 2.66 EPS for the current fiscal year.

In other news, CEO H Lynn Harton sold 5,000 shares of United Community Banks stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $35.11, for a total value of $175,550.00. Following the transaction, the chief executive officer now owns 242,222 shares of the company’s stock, valued at approximately $8,504,414.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky lifted its stake in shares of United Community Banks by 22.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 29,997 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 5,500 shares during the period. Verition Fund Management LLC raised its position in United Community Banks by 43.3% during the first quarter. Verition Fund Management LLC now owns 39,653 shares of the financial services provider’s stock worth $1,380,000 after acquiring an additional 11,973 shares during the period. EverSource Wealth Advisors LLC raised its position in United Community Banks by 87.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 524 shares during the period. Capital Research Global Investors purchased a new stake in shares of United Community Banks during the first quarter worth $75,829,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of United Community Banks during the first quarter worth $1,023,000. Institutional investors and hedge funds own 79.51% of the company’s stock.

United Community Banks Company Profile (Get Rating)

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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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai