United Community Banks (NASDAQ:UCBI) PT Lowered to $28.00

United Community Banks (NASDAQ:UCBI) had its target price reduced by stock analysts at Piper Sandler from $30.00 to $28.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 7.78% from the company’s current price.

UCBI has been the subject of several other reports. DA Davidson reiterated a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. Truist Financial lowered their price target on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.60.

United Community Banks Stock Up 0.6 %

NASDAQ UCBI opened at $25.98 on Thursday. The business has a fifty day moving average price of $25.57 and a two-hundred day moving average price of $26.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. United Community Banks has a fifty-two week low of $20.37 and a fifty-two week high of $30.75. The stock has a market capitalization of $3.09 billion, a PE ratio of 16.87 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $232.00 million. During the same period in the prior year, the company earned $0.58 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts expect that United Community Banks will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of United Community Banks by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock worth $337,412,000 after purchasing an additional 245,944 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of United Community Banks by 12.2% during the 3rd quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider’s stock worth $4,362,000 after purchasing an additional 18,622 shares in the last quarter. Blair William & Co. IL bought a new position in shares of United Community Banks during the 3rd quarter worth about $5,501,000. Sequoia Financial Advisors LLC boosted its position in shares of United Community Banks by 12.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock worth $48,633,000 after purchasing an additional 337,102 shares in the last quarter. 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.