United Community Banks, Inc. (NASDAQ:UCBI) Raised to Buy at Zacks Investment Research

United Community Banks, Inc. (NASDAQ:UCBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, June 30th. The brokerage currently has a $31.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.36% from the stock’s current price.

According to Zacks, “United Community Banks, Inc. engages in the provision of consumer and business banking services to individuals and small and medium-sized businesses. It offers commercial, consumer and commercial real estate loans; deposit services, checking accounts, savings accounts, CDS health savings and IRAs, personal loans and mortgages other services, internet banking and e-statements, electronic bill paying services and an overdraft privilege. United Community Banks, Inc. is headquartered in Blairsville, GA. “

Other equities research analysts have also recently issued research reports about the company. UBS AG raised United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. Stephens reissued a “hold” rating and issued a $30.00 price target on shares of United Community Banks in a research note on Tuesday, June 27th. ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, May 3rd. Finally, Keefe, Bruyette & Woods set a $30.00 target price on United Community Banks and gave the stock a “hold” rating in a research report on Monday, April 10th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.67.

United Community Banks (NASDAQ UCBI) traded down 2.20% during trading on Friday, reaching $27.59. 364,642 shares of the company’s stock traded hands. United Community Banks has a 12 month low of $18.78 and a 12 month high of $30.47. The stock has a market capitalization of $1.96 billion, a P/E ratio of 18.90 and a beta of 0.88. The company has a 50-day moving average of $27.88 and a 200 day moving average of $27.75.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $108 million for the quarter, compared to the consensus estimate of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts expect that United Community Banks will post $1.62 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.com-unik.info/2017/07/30/united-community-banks-inc-nasdaqucbi-raised-to-buy-at-zacks-investment-research-updated-updated-updated.html.

Large investors have recently bought and sold shares of the stock. Comerica Bank boosted its stake in United Community Banks by 5.5% in the fourth quarter. Comerica Bank now owns 75,358 shares of the financial services provider’s stock valued at $2,162,000 after buying an additional 3,952 shares in the last quarter. State Street Corp boosted its stake in United Community Banks by 10.7% in the fourth quarter. State Street Corp now owns 2,138,182 shares of the financial services provider’s stock valued at $63,335,000 after buying an additional 206,485 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in United Community Banks during the fourth quarter valued at $588,000. FMR LLC boosted its stake in United Community Banks by 2.0% in the fourth quarter. FMR LLC now owns 1,730,750 shares of the financial services provider’s stock valued at $51,265,000 after buying an additional 33,200 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in United Community Banks by 25.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,834 shares of the financial services provider’s stock valued at $231,000 after buying an additional 1,571 shares in the last quarter. 94.37% of the stock is owned by institutional investors.

About United Community Banks

United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.

Get a free copy of the Zacks research report on United Community Banks (UCBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

What are top analysts saying about United Community Banks Inc.? – Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts’ recommendations for for United Community Banks Inc. and related companies.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

6 − 4 =