United Community Banks (NASDAQ:UCBI) Upgraded by StockNews.com to “Hold”

United Community Banks (NASDAQ:UCBI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms also recently issued reports on UCBI. DA Davidson lifted their price target on shares of United Community Banks from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler dropped their target price on United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods boosted their price target on United Community Banks from $28.00 to $32.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Truist Financial raised their price objective on United Community Banks from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, United Community Banks has a consensus rating of “Hold” and an average price target of $31.50.

United Community Banks Stock Up 3.8 %

Shares of NASDAQ UCBI traded up $1.13 on Thursday, hitting $31.18. The company had a trading volume of 1,207,799 shares, compared to its average volume of 591,213. The firm has a market capitalization of $3.71 billion, a P/E ratio of 20.25 and a beta of 0.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. United Community Banks has a 12-month low of $21.63 and a 12-month high of $31.57. The business has a 50 day moving average of $26.08 and a two-hundred day moving average of $26.34.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. The firm had revenue of $347.00 million for the quarter, compared to analyst estimates of $238.95 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. As a group, equities research analysts forecast that United Community Banks will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Community Banks

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in United Community Banks during the fourth quarter worth $115,000. Raymond James Financial Services Advisors Inc. grew its position in shares of United Community Banks by 12.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,493 shares of the financial services provider’s stock valued at $307,000 after buying an additional 1,144 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in United Community Banks by 21.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 17,814 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 3,089 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in United Community Banks by 1.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,593 shares of the financial services provider’s stock worth $1,539,000 after acquiring an additional 910 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in United Community Banks by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,218 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 583 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About United Community Banks

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.