United Community Banks, Inc. (NASDAQ:UCBI) Receives $31.00 Average PT from Brokerages

Shares of United Community Banks, Inc. (NASDAQ:UCBI) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.00.

Several equities analysts have weighed in on UCBI shares. DA Davidson reissued a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. Truist Financial lowered their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com raised United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Piper Sandler lifted their price objective on United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, TheStreet downgraded United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th.

United Community Banks Stock Performance

NASDAQ UCBI opened at $24.70 on Friday. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75. The company has a market capitalization of $2.94 billion, a P/E ratio of 15.94 and a beta of 0.94. The business has a 50 day moving average price of $25.72 and a 200 day moving average price of $26.19. 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 (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $165.70 million during the quarter, compared to the consensus estimate of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. United Community Banks’s revenue was down 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts expect that United Community Banks will post 2.19 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio is presently 59.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC lifted its stake in shares of United Community Banks by 97.5% during the second quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of United Community Banks by 113.1% during the first quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 735 shares in the last quarter. Carmel Capital Partners LLC acquired a new position in shares of United Community Banks during the third quarter worth about $36,000. State of Wyoming lifted its stake in shares of United Community Banks by 25.9% during the second quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of United Community Banks during the fourth quarter worth about $72,000. Institutional investors and hedge funds 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.