United Community Banks, Inc. (UCBI) Sees Unusually-High Trading Volume
Shares of United Community Banks, Inc. (NASDAQ:UCBI) saw strong trading volume on Friday . 335,915 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 329,910 shares.The stock last traded at $20.40 and had previously closed at $20.22.
Separately, Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, May 25th.
The stock has a market capitalization of $1.45 billion and a PE ratio of 17.33. The company’s 50-day moving average is $19.42 and its 200-day moving average is $18.90.
United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. During the same period in the previous year, the firm earned $0.32 earnings per share. Analysts anticipate that United Community Banks, Inc. will post $1.43 EPS for the current fiscal year.
A hedge fund recently bought a new stake in United Community Banks stock. Marshall Wace LLP purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 110,564 shares of the financial services provider’s stock, valued at approximately $2,155,000. Marshall Wace LLP owned about 0.15% of United Community Banks at the end of the most recent quarter.
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.
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