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

United Community Banks, Inc. (NYSE:UCB) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $38.40.

Several analysts have issued reports on UCB shares. Piper Sandler reduced their price target on shares of United Community Banks from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, June 17th. Wall Street Zen cut shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Hovde Group reduced their target price on United Community Banks from $38.00 to $37.00 and set a “market perform” rating on the stock in a research note on Monday, April 27th. DA Davidson increased their target price on United Community Banks from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, Weiss Ratings raised United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 30th.

United Community Banks Trading Up 2.9%

NYSE:UCB opened at $37.04 on Friday. United Community Banks has a 52-week low of $28.65 and a 52-week high of $37.18. 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 fifty day simple moving average of $33.92 and a 200-day simple moving average of $33.33. The company has a market capitalization of $4.43 billion, a PE ratio of 13.62 and a beta of 0.81.

United Community Banks (NYSE:UCB) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The firm had revenue of $278.26 million for the quarter. During the same period in the previous year, the company posted $0.58 earnings per share. United Community Banks’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that United Community Banks will post 3.02 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Monday, June 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. United Community Banks’s dividend payout ratio (DPR) is presently 36.76%.

Insider Buying and Selling

In related news, EVP Richard Bradshaw sold 1,510 shares of United Community Banks stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $33.09, for a total transaction of $49,965.90. Following the completion of the sale, the executive vice president owned 84,497 shares in the company, valued at approximately $2,796,005.73. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On United Community Banks

Several hedge funds have recently modified their holdings of UCB. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Community Banks during the fourth quarter worth about $29,000. Covestor Ltd lifted its stake in shares of United Community Banks by 196.1% during the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after buying an additional 657 shares during the period. Torren Management LLC acquired a new stake in United Community Banks during the fourth quarter worth approximately $39,000. First Horizon Corp grew its stake in United Community Banks by 51.7% in 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 period. Finally, Kestra Advisory Services LLC purchased a new stake in United Community Banks in the 4th quarter worth approximately $42,000. 82.29% of the stock is owned by institutional investors and hedge funds.

About United Community Banks

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.