United Community Banks (NASDAQ:UCBI) Given New $28.00 Price Target at Piper Sandler

United Community Banks (NASDAQ:UCBI) had its target price reduced by Piper Sandler from $30.00 to $28.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the company. StockNews.com upgraded United Community Banks to a sell rating in a report on Wednesday, January 17th. TheStreet downgraded United Community Banks from a b rating to a c+ rating in a report on Wednesday, January 24th. DA Davidson reiterated a buy rating on shares of United Community Banks in a report on Monday, January 15th. Finally, Truist Financial cut their price target on United Community Banks from $31.00 to $28.00 and set a hold rating for the company in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $30.60.

United Community Banks Trading Up 0.6 %

Shares of United Community Banks stock opened at $25.98 on Thursday. 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 1 year low of $20.37 and a 1 year high of $30.75. The company has a market capitalization of $3.09 billion, a P/E ratio of 16.87 and a beta of 0.94. The business has a 50 day moving average price of $25.57 and a 200 day moving average price of $26.22.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Sell-side analysts anticipate that United Community Banks will post 2.09 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.54%. United Community Banks’s dividend payout ratio is presently 59.74%.

Institutional Trading of United Community Banks

Several institutional investors have recently made changes to their positions in UCBI. Carmel Capital Partners LLC purchased a new stake in shares of United Community Banks during the 3rd quarter valued at $36,000. GAMMA Investing LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at $72,000. SG Americas Securities LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at $115,000. FinTrust Capital Advisors LLC boosted its position in United Community Banks by 12.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 500 shares during the period. Finally, TFO Wealth Partners LLC boosted its position in United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 5,568 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

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.