United Community Banks (NASDAQ:UCBI – Get Rating) had its price target dropped by equities researchers at Truist Financial from $34.00 to $32.00 in a research note issued to investors on Wednesday, The Fly reports. Truist Financial’s price objective would indicate a potential upside of 11.54% from the company’s previous close.
UCBI has been the topic of several other research reports. StockNews.com raised United Community Banks from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James cut United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.
UCBI stock opened at $28.69 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.76. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 11.12 and a beta of 1.07. United Community Banks has a fifty-two week low of $27.62 and a fifty-two week high of $39.32. The stock has a fifty day moving average of $30.85 and a 200-day moving average of $34.29.
United Community Banks (NASDAQ:UCBI – Get Rating) last issued its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $202.77 million for the quarter, compared to analysts’ expectations of $202.89 million. United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. Equities analysts predict that United Community Banks will post 2.66 EPS for the current year.
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In other news, CEO H Lynn Harton sold 5,000 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $35.11, for a total transaction of $175,550.00. Following the transaction, the chief executive officer now directly owns 242,222 shares in the company, valued at approximately $8,504,414.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in UCBI. BlackRock Inc. boosted its stake in shares of United Community Banks by 19.1% during the first quarter. BlackRock Inc. now owns 15,623,173 shares of the financial services provider’s stock valued at $543,687,000 after purchasing an additional 2,505,834 shares during the period. Capital Research Global Investors bought a new stake in United Community Banks during the 1st quarter valued at $75,829,000. State Street Corp boosted its position in United Community Banks by 34.7% during the 1st quarter. State Street Corp now owns 6,258,337 shares of the financial services provider’s stock valued at $218,903,000 after buying an additional 1,611,842 shares during the period. JPMorgan Chase & Co. grew its holdings in United Community Banks by 297.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,750,451 shares of the financial services provider’s stock worth $62,911,000 after acquiring an additional 1,310,082 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of United Community Banks by 231.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,488,855 shares of the financial services provider’s stock valued at $51,812,000 after acquiring an additional 1,039,312 shares during the period. Hedge funds and other institutional investors own 79.51% of the company’s stock.
About United Community Banks (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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