United Community Banks, Inc. (UCBI) Given Consensus Recommendation of “Buy” by Brokerages
United Community Banks, Inc. (NASDAQ:UCBI) has been given an average rating of “Buy” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $30.83.
Several research firms recently weighed in on UCBI. BidaskClub downgraded United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Wednesday, August 16th. Stephens reaffirmed a “hold” rating and issued a $29.00 price objective on shares of United Community Banks in a research note on Wednesday, July 26th. Raymond James Financial, Inc. dropped their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 27th. Finally, ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $26.06, for a total transaction of $300,993.00. Following the completion of the transaction, the executive vice president now owns 16,858 shares of the company’s stock, valued at $439,319.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.18% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in United Community Banks by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,192,853 shares of the financial services provider’s stock worth $60,960,000 after buying an additional 6,220 shares in the last quarter. Bank of America Corp DE increased its position in United Community Banks by 17.1% during the first quarter. Bank of America Corp DE now owns 750,629 shares of the financial services provider’s stock worth $20,785,000 after buying an additional 109,732 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in United Community Banks by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 473,440 shares of the financial services provider’s stock worth $13,110,000 after buying an additional 15,513 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new position in United Community Banks during the first quarter worth $122,000. Finally, Great Lakes Advisors LLC increased its position in United Community Banks by 21.2% during the second quarter. Great Lakes Advisors LLC now owns 62,982 shares of the financial services provider’s stock worth $1,751,000 after buying an additional 11,015 shares in the last quarter. 89.67% of the stock is owned by institutional investors.
Shares of United Community Banks (NASDAQ:UCBI) opened at 25.98 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 17.79 and a beta of 0.87. The company’s 50 day moving average price is $26.34 and its 200 day moving average price is $27.20. United Community Banks has a 12 month low of $20.12 and a 12 month high of $30.47.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The firm had revenue of $108.00 million during the quarter, compared to the consensus estimate of $110.49 million. During the same period last year, the business posted $0.36 EPS. United Community Banks’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that United Community Banks will post $1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be given a dividend of $0.10 per share. This is an increase from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, September 14th. This represents a $0.40 annualized dividend and a yield of 1.54%. United Community Banks’s dividend payout ratio (DPR) is presently 27.40%.
About United Community Banks
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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