United Community Banks (NASDAQ:UCBI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of United Community Banks (NASDAQ:UCBI) in a report released on Saturday morning. The firm issued a hold rating on the financial services provider’s stock.

Several other analysts have also commented on UCBI. DA Davidson lifted their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Truist Financial upped their price objective on United Community Banks from $26.00 to $31.00 and gave the company a hold rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on United Community Banks from $28.00 to $32.00 and gave the company a market perform rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, United Community Banks has an average rating of Hold and a consensus target price of $31.50.

United Community Banks Stock Performance

UCBI stock opened at $27.83 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.32 billion, a PE ratio of 18.07 and a beta of 0.90. The business has a 50 day moving average of $27.75 and a 200-day moving average of $26.37. United Community Banks has a 12-month low of $21.63 and a 12-month high of $31.96.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $347.00 million during the quarter, compared to the consensus estimate of $238.95 million. United Community Banks had a return on equity of 8.04% and a net margin of 13.36%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, sell-side analysts expect that United Community Banks will post 2.24 earnings per share for the current year.

Institutional Investors Weigh In On United Community Banks

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of United Community Banks by 438.3% in the first quarter. SG Americas Securities LLC now owns 21,135 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 17,209 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of United Community Banks during the first quarter valued at about $703,000. Rafferty Asset Management LLC increased its position in shares of United Community Banks by 85.2% during the fourth quarter. Rafferty Asset Management LLC now owns 157,743 shares of the financial services provider’s stock valued at $4,616,000 after buying an additional 72,582 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of United Community Banks in the fourth quarter worth about $346,000. Finally, Private Advisor Group LLC bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $203,000. Institutional investors own 82.29% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.