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.
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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.
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