United Community Banks, Inc. (NASDAQ:UCBI) Given Consensus Recommendation of “Buy” by Brokerages
Shares of United Community Banks, Inc. (NASDAQ:UCBI) have earned an average rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.60.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. UBS AG raised shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. Raymond James Financial, Inc. dropped their price objective on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Finally, Stephens reissued a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a research report on Tuesday, June 27th.
United Community Banks (NASDAQ UCBI) opened at 28.21 on Friday. The stock’s 50 day moving average is $27.85 and its 200 day moving average is $27.75. The company has a market cap of $2.00 billion, a P/E ratio of 19.88 and a beta of 0.88. United Community Banks has a 12-month low of $18.78 and a 12-month high of $30.47.
United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $108 million for the quarter, compared to analyst estimates of $110.49 million. United Community Banks had a net margin of 23.07% and a return on equity of 10.32%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts forecast that United Community Banks will post $1.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. This is a positive change from United Community Banks’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, June 13th. United Community Banks’s dividend payout ratio (DPR) is currently 24.66%.
A number of institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $101,000. Cypress Capital Management LLC WY acquired a new position in United Community Banks during the first quarter worth approximately $122,000. Glen Harbor Capital Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $122,000. LS Investment Advisors LLC raised its position in United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,355 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in United Community Banks during the first quarter worth approximately $168,000. 94.37% of the stock is currently owned by institutional investors and hedge funds.
United Community Banks Company Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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