United Community Banks (NASDAQ:UCBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday. They currently have a $31.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.36% from the stock’s current price.

According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “

Other analysts have also recently issued research reports about the company. SunTrust Banks reissued a “buy” rating and issued a $33.00 price objective on shares of United Community Banks in a research report on Thursday, October 12th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Finally, ValuEngine cut United Community Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. United Community Banks presently has a consensus rating of “Buy” and a consensus price target of $31.00.

Shares of United Community Banks (NASDAQ:UCBI) opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $2,056.81, a price-to-earnings ratio of 18.98 and a beta of 0.89. United Community Banks has a 52-week low of $24.47 and a 52-week high of $29.84.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $109.35 million during the quarter, compared to analysts’ expectations of $114.65 million. United Community Banks had a return on equity of 10.31% and a net margin of 23.09%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. research analysts expect that United Community Banks will post 1.63 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in United Community Banks during the 3rd quarter worth about $653,000. California Public Employees Retirement System lifted its position in United Community Banks by 18.2% during the 3rd quarter. California Public Employees Retirement System now owns 127,458 shares of the financial services provider’s stock worth $3,638,000 after acquiring an additional 19,658 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in United Community Banks during the 3rd quarter worth about $604,000. Zions Bancorporation acquired a new stake in United Community Banks during the 3rd quarter worth about $115,000. Finally, Maltese Capital Management LLC lifted its position in United Community Banks by 64.9% during the 3rd quarter. Maltese Capital Management LLC now owns 587,000 shares of the financial services provider’s stock worth $16,753,000 after acquiring an additional 231,000 shares during the period. 87.67% of the stock is owned by institutional investors.

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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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