United Community Banks, Inc. (NYSE:UCB) Stock Has Average Price Target of $39.60

Shares of United Community Banks, Inc. (NYSE:UCB) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $39.60.

Several equities research analysts have weighed in on UCB shares. Keefe, Bruyette & Woods raised their target price on shares of United Community Banks from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Piper Sandler upped their target price on United Community Banks from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. TD Cowen raised shares of United Community Banks to a “strong-buy” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of United Community Banks in a report on Friday, September 25th.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Jefferson Harralson sold 25,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total value of $885,250.00. Following the sale, the executive vice president directly owned 37,433 shares of the company’s stock, valued at approximately $1,325,502.53. This represents a 40.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Bradshaw sold 1,424 shares of United Community Banks stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $35.09, for a total value of $49,968.16. Following the transaction, the executive vice president owned 83,228 shares of the company’s stock, valued at $2,920,470.52. The trade was a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Community Banks

Hedge funds have recently modified their holdings of the company. Moody National Bank Trust Division grew its holdings in United Community Banks by 17.4% in the third quarter. Moody National Bank Trust Division now owns 31,180 shares of the company’s stock valued at $1,040,000 after purchasing an additional 4,612 shares during the period. Versant Capital Management Inc raised its position in shares of United Community Banks by 26.4% during the 3rd quarter. Versant Capital Management Inc now owns 3,659 shares of the company’s stock worth $122,000 after purchasing an additional 765 shares during the last quarter. QRG Capital Management Inc. lifted its stake in United Community Banks by 7.6% in the 2nd quarter. QRG Capital Management Inc. now owns 8,448 shares of the company’s stock valued at $296,000 after buying an additional 596 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of United Community Banks in the second quarter valued at approximately $925,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of United Community Banks in the second quarter valued at approximately $37,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Down 0.1%

Shares of United Community Banks stock opened at $33.76 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.83. United Community Banks has a 1 year low of $28.65 and a 1 year high of $37.18. The firm’s 50-day moving average is $35.13 and its two-hundred day moving average is $34.14. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 11.11 and a beta of 0.88.

United Community Banks (NYSE:UCB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $279.28 million for the quarter. United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. As a group, research analysts expect that United Community Banks will post 2.99 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, September 15th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.25. United Community Banks’s dividend payout ratio (DPR) is presently 34.21%.

About United Community Banks

United Community Banks, Inc is a bank holding company headquartered in Greenville, South Carolina. Through its subsidiary, United Community Bank, the company provides banking and financial services to individuals, families, businesses and municipalities across the southeastern United States.

United Community Bank offers consumer and commercial deposit accounts, residential and commercial real estate loans, consumer lending, business lending and treasury-management services. Its services also include wealth management, investment advisory and trust solutions, as well as online and mobile banking.

The company traces its history to 1950, when its banking operations were established in Blairsville, Georgia.