United Community Banks (NYSE:UCB) Sets New 12-Month High – Here’s Why

Shares of United Community Banks, Inc. (NYSE:UCB) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $37.50 and last traded at $37.5610, with a volume of 50,127 shares. The stock had previously closed at $36.73.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on UCB shares. Stephens increased their price target on United Community Banks from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. DA Davidson lifted their target price on United Community Banks from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. TD Cowen upgraded shares of United Community Banks to a “strong-buy” rating in a research report on Thursday, July 16th. Zacks Research raised United Community Banks from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 21st. Finally, Wall Street Zen upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $40.00.

United Community Banks Trading Up 2.9%

The company’s 50-day moving average is $34.83 and its 200 day moving average is $34.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.56 billion, a PE ratio of 32.09 and a beta of 0.86.

United Community Banks (NYSE:UCB) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. United Community Banks had a return on equity of 9.66% and a net margin of 9.06%. The business had revenue of $291.90 million for the quarter. As a group, sell-side analysts predict that United Community Banks, Inc. will post 3.01 EPS for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. This is an increase from United Community Banks’s previous quarterly dividend of $0.25. United Community Banks’s dividend payout ratio is presently 88.14%.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,345 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $37.17, for a total value of $49,993.65. Following the transaction, the executive vice president directly owned 82,054 shares of the company’s stock, valued at $3,049,947.18. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.45% of the company’s stock.

Institutional Trading of United Community Banks

Several large investors have recently added to or reduced their stakes in UCB. Allworth Financial LP raised its holdings in United Community Banks by 10.1% during the second quarter. Allworth Financial LP now owns 3,256 shares of the company’s stock valued at $114,000 after buying an additional 300 shares in the last quarter. Versant Capital Management Inc grew its holdings in United Community Banks by 13.2% in the 2nd quarter. Versant Capital Management Inc now owns 2,894 shares of the company’s stock valued at $102,000 after buying an additional 338 shares during the last quarter. HighTower Advisors LLC increased its position in United Community Banks by 1.0% in the 2nd quarter. HighTower Advisors LLC now owns 55,543 shares of the company’s stock worth $1,949,000 after buying an additional 574 shares during the period. QRG Capital Management Inc. grew its stake in shares of United Community Banks by 7.6% in the second quarter. QRG Capital Management Inc. now owns 8,448 shares of the company’s stock worth $296,000 after acquiring an additional 596 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in United Community Banks by 8.4% during the third quarter. Commonwealth Equity Services LLC now owns 9,393 shares of the company’s stock worth $313,000 after acquiring an additional 724 shares during the period. 82.29% of the stock is owned by institutional investors.

United Community Banks Company Profile

United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.

United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.