United Community Banks, Inc. (NASDAQ:UCBI) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, The Fly reports.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Hovde Group downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $22.00 to $23.00 in a research report on Thursday, October 27th. Finally, Raymond James Financial Inc. raised shares of United Community Banks from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $22.00 to $24.00 in a research report on Thursday, October 6th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. United Community Banks currently has an average rating of “Buy” and a consensus price target of $24.00.

Shares of United Community Banks (NASDAQ:UCBI) opened at 26.66 on Tuesday. The stock has a 50 day moving average of $23.03 and a 200-day moving average of $20.55. United Community Banks has a 12 month low of $15.74 and a 12 month high of $27.28. The company has a market cap of $1.89 billion and a price-to-earnings ratio of 20.96.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. During the same quarter in the prior year, the business posted $0.33 EPS. On average, analysts forecast that United Community Banks will post $1.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.20%. The ex-dividend date is Tuesday, December 13th.

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Hedge funds have recently bought and sold shares of the stock. Monashee Investment Management LLC acquired a new stake in United Community Banks during the second quarter valued at about $457,000. SECOR Capital Advisors LP increased its stake in United Community Banks by 1,039.7% in the second quarter. SECOR Capital Advisors LP now owns 272,548 shares of the financial services provider’s stock valued at $4,985,000 after buying an additional 248,633 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in United Community Banks by 9.2% in the second quarter. Rothschild Asset Management Inc. now owns 115,944 shares of the financial services provider’s stock valued at $2,121,000 after buying an additional 9,782 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in United Community Banks during the second quarter valued at about $251,000. Finally, Louisiana State Employees Retirement System increased its stake in United Community Banks by 15.2% in the second quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the financial services provider’s stock valued at $569,000 after buying an additional 4,100 shares during the last quarter.

About United Community Banks

United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

5 Day Chart for NASDAQ:UCBI

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