United Community Banks (NASDAQ:UCBI) Lowered to Neutral at Janney Montgomery Scott

United Community Banks (NASDAQ:UCBI – Get Rating) was downgraded by research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on UCBI. StockNews.com cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Piper Sandler increased their price target on shares of United Community Banks from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.00.

United Community Banks Stock Up 2.9 %

Shares of UCBI opened at $31.92 on Thursday. The stock has a market capitalization of $3.39 billion, a PE ratio of 13.70 and a beta of 1.03. United Community Banks has a 1 year low of $27.85 and a 1 year high of $39.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.74. The company’s 50-day simple moving average is $35.25 and its 200-day simple moving average is $34.68.

United Community Banks (NASDAQ:UCBI – Get Rating) last issued its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $226.68 million. United Community Banks had a net margin of 28.92% and a return on equity of 10.99%. The business’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. Analysts forecast that United Community Banks will post 2.75 earnings per share for the current fiscal year.

Institutional Trading of United Community Banks

A number of large investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System purchased a new stake in shares of United Community Banks during the fourth quarter worth approximately $1,482,000. Sequoia Financial Advisors LLC increased its stake in shares of United Community Banks by 13.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,202 shares of the financial services provider’s stock worth $412,000 after buying an additional 1,457 shares during the period. State of Alaska Department of Revenue increased its stake in shares of United Community Banks by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 73,929 shares of the financial services provider’s stock worth $2,498,000 after buying an additional 458 shares during the period. Bank of New York Mellon Corp increased its stake in shares of United Community Banks by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,782,042 shares of the financial services provider’s stock worth $58,986,000 after buying an additional 11,887 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in shares of United Community Banks by 100.5% during the third quarter. Eagle Bay Advisors LLC now owns 1,925 shares of the financial services provider’s stock worth $64,000 after buying an additional 965 shares during the period. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Company Profile

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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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.