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 on Friday, June 30th. The brokerage presently has a $31.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.23% 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 issued reports about the stock. 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. Stephens reiterated a “hold” rating and set a $30.00 target price on shares of United Community Banks in a research report on Tuesday, June 27th. ValuEngine upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Hovde Group upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Wednesday, May 3rd. Finally, Keefe, Bruyette & Woods set a $30.00 price target on United Community Banks and gave the stock a “hold” rating in a research report on Monday, April 10th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.
Shares of United Community Banks (NASDAQ:UCBI) traded down 0.60% during mid-day trading on Friday, hitting $28.38. 411,199 shares of the stock were exchanged. United Community Banks has a 52 week low of $18.78 and a 52 week high of $30.47. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.00 and a beta of 0.88. The stock’s 50-day moving average is $27.48 and its 200-day moving average is $27.78.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. United Community Banks had a net margin of 22.27% and a return on equity of 8.67%. The company had revenue of $104.83 million during the quarter, compared to analyst estimates of $104.30 million. During the same period last year, the business earned $0.33 earnings per share. United Community Banks’s revenue was up 11.8% compared to the same quarter last year. Analysts forecast that United Community Banks will post $1.62 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in United Community Banks by 20,108.8% in the first quarter. BlackRock Inc. now owns 9,233,176 shares of the financial services provider’s stock worth $255,666,000 after buying an additional 9,187,487 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in United Community Banks during the second quarter worth approximately $46,246,000. State Street Corp increased its stake in United Community Banks by 53.8% in the first quarter. State Street Corp now owns 3,289,230 shares of the financial services provider’s stock worth $91,081,000 after buying an additional 1,151,048 shares during the period. Schroder Investment Management Group increased its stake in United Community Banks by 37.6% in the first quarter. Schroder Investment Management Group now owns 1,978,781 shares of the financial services provider’s stock worth $55,307,000 after buying an additional 540,965 shares during the period. Finally, Vanguard Group Inc. increased its stake in United Community Banks by 8.0% in the first quarter. Vanguard Group Inc. now owns 6,111,857 shares of the financial services provider’s stock worth $169,237,000 after buying an additional 451,364 shares during the period. 92.28% of the stock is owned by institutional investors and hedge funds.
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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