Hovde Group Has Lowered Expectations for United Community Banks (NASDAQ:UCB) Stock Price

United Community Banks (NASDAQ:UCB) had its target price decreased by equities researchers at Hovde Group from $36.00 to $32.00 in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the stock. Hovde Group’s price target indicates a potential upside of 10.46% from the company’s current price.

A number of other brokerages have also weighed in on UCB. Raymond James raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Thursday, December 19th. Piper Sandler raised their price objective on shares of United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $28.97 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.46 billion, a P/E ratio of 14.20 and a beta of 0.90. The firm has a 50 day simple moving average of $31.78 and a 200 day simple moving average of $31.10. United Community Banks has a fifty-two week low of $26.00 and a fifty-two week high of $35.38.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,527 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $32.72, for a total value of $49,963.44. Following the sale, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the completion of the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at $3,805,104.96. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On United Community Banks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks in the 4th quarter valued at $31,000. Public Employees Retirement System of Ohio acquired a new stake in United Community Banks in the 4th quarter valued at $42,000. Quadrant Capital Group LLC acquired a new stake in United Community Banks in the 4th quarter valued at $45,000. Tower Research Capital LLC TRC acquired a new stake in United Community Banks in the 4th quarter valued at $59,000. Finally, Farther Finance Advisors LLC acquired a new stake in United Community Banks in the 4th quarter valued at $80,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About United Community Banks

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.