United Community Banks, Inc. (UCBI) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of United Community Banks, Inc. (NASDAQ:UCBI) from a buy rating to a hold rating in a research note published on Tuesday, July 4th.

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

United Community Banks (NASDAQ:UCBI) traded down 2.20% on Tuesday, reaching $27.59. 364,642 shares of the company’s stock were exchanged. United Community Banks has a 1-year low of $18.78 and a 1-year high of $30.47. The stock’s 50 day moving average price is $27.88 and its 200 day moving average price is $27.75. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.90 and a beta of 0.88.

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

TRADEMARK VIOLATION WARNING: “United Community Banks, Inc. (UCBI) Cut to Hold at Zacks Investment Research” was published by BNB Daily and is the property of of BNB Daily. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.baseball-news-blog.com/2017/07/29/united-community-banks-inc-ucbi-downgraded-to-hold-at-zacks-investment-research-updated-updated-updated.html.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were given a $0.09 dividend. The ex-dividend date was Tuesday, June 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.30%. United Community Banks’s dividend payout ratio (DPR) is currently 24.66%.

Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its position in United Community Banks by 0.8% in the second quarter. Texas Permanent School Fund now owns 51,808 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 432 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in United Community Banks by 1.7% in the second quarter. Rothschild Asset Management Inc. now owns 483,309 shares of the financial services provider’s stock valued at $13,436,000 after buying an additional 8,252 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in United Community Banks by 3.9% in the second quarter. Great West Life Assurance Co. Can now owns 103,542 shares of the financial services provider’s stock valued at $2,877,000 after buying an additional 3,905 shares during the last quarter. NGAM Advisors L.P. bought a new position in United Community Banks during the second quarter valued at approximately $3,865,000. Finally, Bowling Portfolio Management LLC bought a new position in United Community Banks during the second quarter valued at approximately $574,000. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Company Profile

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)

Receive News & Ratings for United Community Banks Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for United Community Banks Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

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

*

eleven − 8 =