United Community Banks (UCBI) Cut to “Hold” at BidaskClub

BidaskClub cut shares of United Community Banks (NASDAQ:UCBI) from a buy rating to a hold rating in a research report report published on Saturday.

UCBI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of United Community Banks from a hold rating to a buy rating and set a $30.00 target price on the stock in a research report on Wednesday, September 27th. SunTrust Banks reiterated a buy rating and set a $33.00 target price on shares of United Community Banks in a research report on Thursday, October 12th. ValuEngine lowered shares of United Community Banks from a buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, FIG Partners upgraded shares of United Community Banks from a market perform rating to an outperform rating and set a $32.00 target price on the stock in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $31.25.

United Community Banks (NASDAQ:UCBI) opened at $27.76 on Friday. United Community Banks has a 12-month low of $24.47 and a 12-month high of $30.47. The stock has a market cap of $2,050.00, a P/E ratio of 17.46 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.80 and a current ratio of 0.81.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 period in the prior year, the business earned $0.36 earnings per share. United Community Banks’s quarterly revenue was up 3.5% on a year-over-year basis. research analysts anticipate that United Community Banks will post 1.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.40 annualized dividend and a yield of 1.44%. United Community Banks’s dividend payout ratio is currently 27.21%.

A number of hedge funds and other institutional investors have recently made changes to their positions in UCBI. Principal Financial Group Inc. lifted its holdings in United Community Banks by 153.8% in the third quarter. Principal Financial Group Inc. now owns 1,396,237 shares of the financial services provider’s stock valued at $39,849,000 after buying an additional 846,122 shares during the period. Schroder Investment Management Group lifted its holdings in United Community Banks by 14.0% in the second quarter. Schroder Investment Management Group now owns 2,255,122 shares of the financial services provider’s stock valued at $63,076,000 after buying an additional 276,341 shares during the period. AJO LP lifted its holdings in United Community Banks by 94.6% in the second quarter. AJO LP now owns 478,901 shares of the financial services provider’s stock valued at $13,313,000 after buying an additional 232,813 shares during the period. Maltese Capital Management LLC lifted its holdings in United Community Banks by 64.9% in the third quarter. Maltese Capital Management LLC now owns 587,000 shares of the financial services provider’s stock valued at $16,753,000 after buying an additional 231,000 shares during the period. Finally, FMR LLC lifted its holdings in United Community Banks by 11.1% in the second quarter. FMR LLC now owns 1,954,112 shares of the financial services provider’s stock valued at $54,324,000 after buying an additional 194,762 shares during the period. Institutional investors and hedge funds own 87.69% of the company’s stock.

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United Community Banks Company Profile

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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