United Community Banks, Inc. (UCBI) Receives $29.40 Average Target Price from Analysts
United Community Banks, Inc. (NASDAQ:UCBI) has been given an average rating of “Buy” by the six analysts that are presently covering the firm. Two 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 brokers that have covered the stock in the last year is $29.40.
Several research firms recently commented on UCBI. Raymond James Financial, Inc. cut United Community Banks from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $32.00 in a research note on Thursday, December 22nd. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, March 29th. Keefe, Bruyette & Woods set a $30.00 target price on United Community Banks and gave the stock a “hold” rating in a research note on Monday, April 10th. Finally, FIG Partners cut United Community Banks from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, January 4th.
Shares of United Community Banks (NASDAQ:UCBI) traded up 1.95% during trading on Monday, reaching $27.22. The company’s stock had a trading volume of 406,071 shares. The company has a market capitalization of $1.93 billion and a PE ratio of 19.46. The stock has a 50 day moving average of $27.46 and a 200-day moving average of $26.72. United Community Banks has a 1-year low of $17.07 and a 1-year high of $30.47.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, January 25th. The financial services provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.20 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts expect that United Community Banks will post $1.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, March 13th.
Several hedge funds have recently bought and sold shares of UCBI. Perkins Investment Management LLC increased its stake in United Community Banks by 47.1% in the third quarter. Perkins Investment Management LLC now owns 1,838,913 shares of the financial services provider’s stock valued at $38,654,000 after buying an additional 588,539 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in United Community Banks during the third quarter valued at $11,010,000. BlackRock Fund Advisors increased its stake in United Community Banks by 8.6% in the third quarter. BlackRock Fund Advisors now owns 4,864,853 shares of the financial services provider’s stock valued at $102,259,000 after buying an additional 385,805 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in United Community Banks by 19.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,156,623 shares of the financial services provider’s stock valued at $45,332,000 after buying an additional 354,080 shares during the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in United Community Banks by 249.0% in the third quarter. Rothschild Asset Management Inc. now owns 404,655 shares of the financial services provider’s stock valued at $8,506,000 after buying an additional 288,711 shares during the last quarter.
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About United Community Banks
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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