BidaskClub lowered shares of United Community Banks (NASDAQ:UCBI) from a hold rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.
Other equities analysts have also recently issued reports about the company. ValuEngine cut United Community Banks from a hold rating to a sell rating in a report on Tuesday, October 15th. SunTrust Banks raised their target price on United Community Banks from $32.00 to $35.00 and gave the company a hold rating in a report on Thursday, January 2nd. Zacks Investment Research upgraded United Community Banks from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Friday, December 6th. Hovde Group cut United Community Banks from an outperform rating to a market perform rating and set a $33.00 target price for the company. in a report on Monday, December 16th. Finally, Stephens reissued a hold rating and issued a $29.00 price objective on shares of United Community Banks in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. United Community Banks presently has a consensus rating of Hold and an average price target of $32.60.
United Community Banks stock traded down $0.39 during midday trading on Tuesday, reaching $29.33. 6,945 shares of the stock traded hands, compared to its average volume of 381,567. The company has a 50-day simple moving average of $30.74 and a two-hundred day simple moving average of $28.94. United Community Banks has a 12-month low of $23.17 and a 12-month high of $31.66. The firm has a market cap of $2.35 billion, a PE ratio of 13.71 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17.
United Community Banks (NASDAQ:UCBI) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. United Community Banks had a return on equity of 12.24% and a net margin of 27.87%. The company had revenue of $148.37 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same period last year, the business posted $0.55 EPS. United Community Banks’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that United Community Banks will post 2.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 16th were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.45%. United Community Banks’s dividend payout ratio (DPR) is 33.64%.
In related news, CAO Alan H. Kumler sold 3,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $30.67, for a total transaction of $92,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.18% of the company’s stock.
Large investors have recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in United Community Banks by 16.1% in the first quarter. First Trust Advisors LP now owns 115,124 shares of the financial services provider’s stock valued at $2,870,000 after buying an additional 15,947 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of United Community Banks in the 1st quarter worth about $165,000. Smith Asset Management Group LP purchased a new stake in shares of United Community Banks in the 2nd quarter worth about $1,163,000. Bank of Montreal Can grew its stake in United Community Banks by 57.2% in the 2nd quarter. Bank of Montreal Can now owns 17,869 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 6,503 shares during the last quarter. Finally, Northern Trust Corp grew its stake in United Community Banks by 10.6% in the 2nd quarter. Northern Trust Corp now owns 1,403,585 shares of the financial services provider’s stock valued at $40,086,000 after acquiring an additional 134,240 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.
United Community Banks Company Profile
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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