United Community Banks (NASDAQ:UCBI) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat reports.
UCBI has been the subject of a number of other research reports. Zacks Investment Research upgraded United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, September 27th. BidaskClub upgraded United Community Banks from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. SunTrust Banks reiterated a “buy” rating and set a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. Finally, ValuEngine cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.
United Community Banks (NASDAQ UCBI) traded down $0.09 during mid-day trading on Thursday, reaching $32.08. The company’s stock had a trading volume of 336,536 shares, compared to its average volume of 502,933. The company has a market cap of $2,350.00, a PE ratio of 35.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 0.81. United Community Banks has a 52-week low of $24.47 and a 52-week high of $32.71.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zions Bancorporation bought a new position in shares of United Community Banks in the 3rd quarter valued at about $115,000. Riverhead Capital Management LLC grew its holdings in shares of United Community Banks by 134.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,090 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of United Community Banks in the 3rd quarter valued at about $200,000. Magnetar Financial LLC bought a new position in shares of United Community Banks in the 3rd quarter valued at about $201,000. Finally, Palouse Capital Management Inc. bought a new position in shares of United Community Banks in the 3rd quarter valued at about $207,000. Institutional investors own 87.71% of the company’s stock.
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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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