United Community Banks’ (UCBI) Buy Rating Reiterated at SunTrust Banks, Inc.
United Community Banks, Inc. (NASDAQ:UCBI)‘s stock had its “buy” rating restated by analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They currently have a $33.00 target price on the financial services provider’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 16.61% from the stock’s current price.
Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stephens reiterated a “hold” rating and issued a $30.00 price objective on shares of United Community Banks in a research note on Tuesday, June 27th. Raymond James Financial, Inc. lowered their price objective on shares of 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. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, FIG Partners upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $31.00.
Shares of United Community Banks (UCBI) traded down 0.53% on Thursday, reaching $28.30. 261,199 shares of the company were exchanged. The company’s 50-day moving average price is $26.86 and its 200 day moving average price is $27.12. United Community Banks has a 12 month low of $20.26 and a 12 month high of $30.47. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 19.38 and a beta of 0.87.
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. The company had revenue of $108.00 million during 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 10.42%. United Community Banks’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities research analysts expect that United Community Banks will post $1.63 EPS for the current year.
In related news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction on Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the sale, the executive vice president now owns 16,858 shares of the company’s stock, valued at approximately $439,319.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Phocas Financial Corp. grew its position in United Community Banks by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 687,563 shares of the financial services provider’s stock valued at $19,114,000 after purchasing an additional 30,688 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in United Community Banks in the 2nd quarter valued at $427,000. Susquehanna International Group LLP acquired a new stake in United Community Banks in the 2nd quarter valued at $514,000. The Manufacturers Life Insurance Company grew its position in United Community Banks by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,719 shares of the financial services provider’s stock valued at $1,522,000 after purchasing an additional 737 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new stake in United Community Banks in the 2nd quarter valued at $2,147,000. 86.71% of the stock is owned by institutional investors and hedge funds.
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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