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.
COPYRIGHT VIOLATION NOTICE: This report was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/united-community-banks-inc-ucbi-receives-29-40-average-target-price-from-analysts/1206245.html.
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.
Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.