United Community Banks (NASDAQ:UCBI) Shares Gap Down to $28.45

Shares of United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $28.45, but opened at $27.49. United Community Banks shares last traded at $27.18, with a volume of 182,337 shares traded.

Wall Street Analyst Weigh In

UCBI has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of United Community Banks from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, January 20th. Janney Montgomery Scott cut shares of United Community Banks from a “buy” rating to a “neutral” rating in a research report on Thursday, January 19th. StockNews.com initiated coverage on shares of United Community Banks in a research report on Thursday. They issued a “sell” rating on the stock. Finally, Piper Sandler dropped their price target on shares of United Community Banks from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Hold” and an average price target of $35.00.

United Community Banks Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $3.05 billion, a PE ratio of 10.52 and a beta of 0.98. The company’s 50 day simple moving average is $32.26 and its 200 day simple moving average is $34.28.

United Community Banks (NASDAQ:UCBI – Get Rating) last posted its quarterly earnings data on Tuesday, January 17th. The financial services provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.08). The firm had revenue of $243.24 million during the quarter, compared to analysts’ expectations of $239.50 million. United Community Banks had a net margin of 29.18% and a return on equity of 11.37%. Analysts expect that United Community Banks, Inc. will post 3.06 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.47%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.22. United Community Banks’s dividend payout ratio (DPR) is presently 36.51%.

Institutional Investors Weigh In On United Community Banks

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in United Community Banks by 6.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after buying an additional 351 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in United Community Banks in the 1st quarter valued at $373,000. Cetera Advisor Networks LLC bought a new position in United Community Banks in the 1st quarter valued at $210,000. Citigroup Inc. boosted its holdings in United Community Banks by 23.0% in the 1st quarter. Citigroup Inc. now owns 94,139 shares of the financial services provider’s stock valued at $3,276,000 after purchasing an additional 17,608 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in United Community Banks by 21.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,403 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 3,025 shares during the period. Hedge funds and other institutional investors own 85.41% of the company’s stock.

About United Community Banks

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United Community Banks, Inc is a bank holding company, which engages in the provision of consumer and business banking services. The firm caters to individuals and small and medium-sized businesses. It offers checking, savings, mortgages, borrowing, digital baking, credit cards, and investing services.