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.
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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.
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