Brokerages Set United Community Banks, Inc. (NASDAQ:UCBI) Target Price at $31.00

Shares of United Community Banks, Inc. (NASDAQ:UCBI) have received a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.00.

Several analysts have recently weighed in on the stock. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a report on Wednesday, January 24th. Truist Financial lowered their price target on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 1st. Piper Sandler raised their price target on shares of United Community Banks from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com raised shares of United Community Banks to a “sell” rating in a report on Wednesday, January 17th. Finally, DA Davidson reissued a “buy” rating on shares of United Community Banks in a report on Monday, January 15th.

United Community Banks Stock Performance

NASDAQ:UCBI opened at $24.70 on Friday. United Community Banks has a 12-month low of $20.37 and a 12-month high of $30.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.94 billion, a PE ratio of 15.94 and a beta of 0.94. The firm has a 50-day moving average price of $25.72 and a 200 day moving average price of $26.19.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The firm had revenue of $165.70 million during the quarter, compared to analyst estimates of $226.07 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. The company’s quarterly revenue was down 25.8% compared to the same quarter last year. Research analysts anticipate that United Community Banks will post 2.19 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 59.36%.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in United Community Banks by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,579 shares of the financial services provider’s stock worth $1,710,000 after purchasing an additional 341 shares during the period. Advisor Group Holdings Inc. boosted its stake in United Community Banks by 6.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 351 shares during the period. State of Wyoming boosted its stake in United Community Banks by 25.9% in the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 390 shares during the period. Eagle Bay Advisors LLC boosted its stake in United Community Banks by 97.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 474 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in United Community Banks by 0.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 90,617 shares of the financial services provider’s stock worth $3,234,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Company Profile

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.