United Community Banks, Inc. (NYSE:UCB) Receives Average Recommendation of “Hold” from Brokerages

Shares of United Community Banks, Inc. (NYSE:UCB) have received a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.3333.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Community Banks in a report on Wednesday, October 8th.

Insider Buying and Selling

In other United Community Banks news, EVP Richard Bradshaw sold 1,654 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $30.23, for a total value of $50,000.42. Following the sale, the executive vice president directly owned 75,226 shares of the company’s stock, valued at approximately $2,274,081.98. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

Large investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new position in shares of United Community Banks in the third quarter worth $409,000. Danske Bank A S bought a new stake in United Community Banks in the 3rd quarter worth about $103,000. Verition Fund Management LLC raised its position in United Community Banks by 51.1% in the 3rd quarter. Verition Fund Management LLC now owns 212,690 shares of the company’s stock worth $6,668,000 after buying an additional 71,930 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of United Community Banks by 105.9% during the third quarter. Qube Research & Technologies Ltd now owns 766,552 shares of the company’s stock valued at $24,031,000 after purchasing an additional 394,263 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its stake in United Community Banks by 37.8% during the 3rd quarter. Brevan Howard Capital Management LP now owns 46,917 shares of the company’s stock valued at $1,471,000 after buying an additional 12,878 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Price Performance

NYSE:UCB opened at $31.32 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $30.50. The stock has a market cap of $3.81 billion, a P/E ratio of 12.43 and a beta of 0.87. United Community Banks has a 1-year low of $22.93 and a 1-year high of $34.57.

United Community Banks (NYSE:UCB) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The company had revenue of $276.85 million during the quarter, compared to analysts’ expectations of $270.85 million. United Community Banks had a net margin of 20.67% and a return on equity of 9.42%. United Community Banks’s revenue was up 27.4% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. United Community Banks’s payout ratio is presently 39.68%.

About United Community Banks

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.