United Community Banks (NASDAQ:UCBI) Price Target Cut to $30.00 by Analysts at DA Davidson

United Community Banks (NASDAQ:UCBI) had its target price decreased by analysts at DA Davidson from $31.50 to $30.00 in a note issued to investors on Thursday, FlyOnTheWall reports. DA Davidson’s price target suggests a potential upside of 17.00% from the stock’s current price.

UCBI has been the subject of a number of other research reports. Keefe, Bruyette & Woods downgraded United Community Banks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $33.00 to $30.00 in a research report on Thursday, July 20th. Truist Financial increased their target price on United Community Banks from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, July 20th. Stephens increased their target price on United Community Banks from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 20th. Finally, StockNews.com raised United Community Banks to a “sell” rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.80.

United Community Banks Stock Performance

Shares of UCBI stock traded up $0.12 during mid-day trading on Thursday, reaching $25.64. The stock had a trading volume of 87,917 shares, compared to its average volume of 635,686. The firm’s 50 day simple moving average is $27.59 and its 200 day simple moving average is $26.63. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.11. United Community Banks has a one year low of $20.37 and a one year high of $39.50. The firm has a market cap of $3.05 billion, a PE ratio of 10.11 and a beta of 1.01.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.08). United Community Banks had a return on equity of 10.79% and a net margin of 24.81%. The firm had revenue of $332.16 million during the quarter, compared to the consensus estimate of $240.15 million. During the same quarter in the prior year, the business posted $0.66 EPS. On average, analysts forecast that United Community Banks will post 2.28 EPS for the current year.

Institutional Investors Weigh In On United Community Banks

A number of hedge funds and other institutional investors have recently bought and sold shares of UCBI. Advisor Group Holdings Inc. increased its holdings in United Community Banks by 6.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 351 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in United Community Banks during the 1st quarter valued at $373,000. Cetera Advisor Networks LLC acquired a new stake in United Community Banks during the 1st quarter valued at $210,000. Citigroup Inc. increased its holdings in United Community Banks by 23.0% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in United Community Banks by 21.0% during 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 in the last quarter. 80.99% of the stock is owned by institutional investors and hedge funds.

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.