United Community Banks (NASDAQ:UCBI – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Separately, Piper Sandler lifted their price objective on shares of United Community Banks from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, October 20th.
United Community Banks Stock Performance
UCBI opened at $34.78 on Friday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 14.93 and a beta of 1.03. The company has a fifty day moving average of $35.82 and a 200 day moving average of $34.56. United Community Banks has a fifty-two week low of $27.85 and a fifty-two week high of $39.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.74.
United Community Banks (NASDAQ:UCBI – Get Rating) last posted its earnings results on Tuesday, October 18th. The financial services provider reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $231.70 million during the quarter, compared to analysts’ expectations of $226.68 million. United Community Banks had a net margin of 28.92% and a return on equity of 10.99%. United Community Banks’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. As a group, sell-side analysts forecast that United Community Banks will post 2.75 earnings per share for the current fiscal year.
Hedge Funds Weigh In On United Community Banks
A number of large investors have recently made changes to their positions in UCBI. Advisor Group Holdings Inc. boosted its stake in shares of United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 351 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of United Community Banks during the 1st quarter worth about $373,000. Cetera Advisor Networks LLC purchased a new position in shares of United Community Banks during the 1st quarter worth about $210,000. Citigroup Inc. boosted its stake in shares of United Community Banks by 23.0% during the 1st quarter. Citigroup Inc. now owns 94,139 shares of the financial services provider’s stock worth $3,276,000 after purchasing an additional 17,608 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of United Community Banks by 21.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,403 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 3,025 shares during the period. 85.41% of the stock is owned by hedge funds and other institutional investors.
United Community Banks Company Profile
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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