United Community Banks (NASDAQ:UCBI – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages also recently issued reports on UCBI. Piper Sandler cut their price target on shares of United Community Banks to $37.00 in a report on Monday, July 4th. Truist Financial cut their price target on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Finally, Raymond James downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.
United Community Banks Trading Up 0.1 %
UCBI opened at $32.12 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.74 and a quick ratio of 0.75. The company’s 50 day simple moving average is $30.58 and its two-hundred day simple moving average is $33.48. United Community Banks has a 1-year low of $27.62 and a 1-year high of $39.32. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 13.33 and a beta of 1.03.
United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $212.36 million for 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 quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 EPS. Analysts expect that United Community Banks will post 2.68 EPS for the current fiscal year.
Institutional Trading of United Community Banks
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in United Community Banks by 19.1% in the 1st quarter. BlackRock Inc. now owns 15,623,173 shares of the financial services provider’s stock valued at $543,687,000 after buying an additional 2,505,834 shares during the period. Vanguard Group Inc. boosted its position in United Community Banks by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 11,753,740 shares of the financial services provider’s stock valued at $409,029,000 after buying an additional 1,034,191 shares during the period. State Street Corp boosted its position in United Community Banks by 34.7% in 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. Dimensional Fund Advisors LP boosted its position in United Community Banks by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,137,725 shares of the financial services provider’s stock valued at $109,197,000 after buying an additional 133,074 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in United Community Banks by 13.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,777,724 shares of the financial services provider’s stock valued at $99,831,000 after buying an additional 333,009 shares during the period. Institutional investors and hedge funds own 79.51% of the company’s stock.
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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Source: defenseworld.net
