United Community Banks (NASDAQ:UCBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday. They currently have a $31.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.36% from the stock’s current price.

According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “

UCBI has been the topic of a number of other research reports. ValuEngine lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, SunTrust Banks reiterated a “buy” rating and set a $33.00 price objective on shares of United Community Banks in a research note on Thursday, October 12th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.00.

Shares of United Community Banks (UCBI) opened at $28.09 on Friday. United Community Banks has a 12 month low of $24.47 and a 12 month high of $29.84. The company has a market cap of $2,056.81, a P/E ratio of 18.98 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.52.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The company had revenue of $109.35 million for the quarter, compared to analyst estimates of $114.65 million. During the same quarter last year, the business earned $0.36 earnings per share. United Community Banks’s revenue was up 3.5% compared to the same quarter last year. equities research analysts forecast that United Community Banks will post 1.63 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its stake in United Community Banks by 25.9% in the 2nd quarter. Voya Investment Management LLC now owns 28,800 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 5,928 shares during the period. Principal Financial Group Inc. boosted its stake in United Community Banks by 153.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,396,237 shares of the financial services provider’s stock worth $39,849,000 after purchasing an additional 846,122 shares during the period. HighTower Advisors LLC acquired a new position in United Community Banks in the 2nd quarter worth approximately $328,000. ClariVest Asset Management LLC boosted its stake in United Community Banks by 3.0% in the 3rd quarter. ClariVest Asset Management LLC now owns 385,316 shares of the financial services provider’s stock worth $10,998,000 after purchasing an additional 11,377 shares during the period. Finally, Phocas Financial Corp. boosted its stake in United Community Banks by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 687,563 shares of the financial services provider’s stock worth $19,114,000 after purchasing an additional 30,688 shares during the period. 87.67% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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