United Community Banks, Inc. (NYSE:UCB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

United Community Banks, Inc. (NYSE:UCB) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.40.

Several equities analysts have commented on UCB shares. Weiss Ratings cut United Community Banks from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 15th. Hovde Group cut their price target on United Community Banks from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Monday, April 27th. Zacks Research cut United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Keefe, Bruyette & Woods raised United Community Banks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $40.00 in a report on Thursday, April 9th. Finally, DA Davidson upped their price target on United Community Banks from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 15th.

United Community Banks Trading Down 0.1%

United Community Banks stock opened at $32.81 on Monday. The business has a 50 day moving average price of $33.30 and a two-hundred day moving average price of $32.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 12.06 and a beta of 0.82. United Community Banks has a 12 month low of $27.70 and a 12 month high of $36.77.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $278.27 million during the quarter. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. As a group, equities analysts forecast that United Community Banks will post 2.95 EPS for the current year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. United Community Banks’s dividend payout ratio is currently 36.76%.

Insider Activity

In other news, EVP Richard Bradshaw sold 1,510 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $33.09, for a total value of $49,965.90. Following the completion of the transaction, the executive vice president directly owned 84,497 shares of the company’s stock, valued at approximately $2,796,005.73. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Community Banks in the 4th quarter worth approximately $29,000. Covestor Ltd grew its position in United Community Banks by 196.1% during the 4th quarter. Covestor Ltd now owns 992 shares of the company’s stock worth $31,000 after acquiring an additional 657 shares during the last quarter. Torren Management LLC bought a new stake in United Community Banks during the 4th quarter worth approximately $39,000. First Horizon Corp grew its position in United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company’s stock worth $41,000 after acquiring an additional 448 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in United Community Banks during the 4th quarter worth approximately $42,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Company Profile

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.