United Community Banks (NASDAQ:UCBI) PT Lowered to $28.00

United Community Banks (NASDAQ:UCBI) had its price objective lowered by Piper Sandler from $30.00 to $28.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on UCBI. TheStreet downgraded United Community Banks from a b rating to a c+ rating in a research report on Wednesday, January 24th. DA Davidson reiterated a buy rating on shares of United Community Banks in a research report on Monday, January 15th. StockNews.com raised United Community Banks to a sell rating in a research note on Wednesday, January 17th. Finally, Truist Financial reduced their target price on United Community Banks from $31.00 to $28.00 and set a hold rating on the stock in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $30.60.

United Community Banks Stock Performance

NASDAQ UCBI traded up $0.25 on Thursday, hitting $26.07. 87,567 shares of the stock traded hands, compared to its average volume of 638,697. The business’s fifty day moving average is $25.59 and its two-hundred day moving average is $26.22. United Community Banks has a 12 month low of $20.37 and a 12 month high of $30.75. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share. As a group, equities analysts anticipate that United Community Banks will post 2.15 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is presently 59.74%.

Institutional Investors Weigh In On United Community Banks

A number of large investors have recently added to or reduced their stakes in UCBI. Norges Bank bought a new stake in United Community Banks in the 4th quarter worth approximately $37,723,000. FMR LLC grew its position in shares of United Community Banks by 15.1% during the 3rd quarter. FMR LLC now owns 8,518,870 shares of the financial services provider’s stock valued at $216,464,000 after acquiring an additional 1,117,539 shares during the period. Hsbc Holdings PLC bought a new stake in shares of United Community Banks during the 4th quarter valued at $20,850,000. Dimensional Fund Advisors LP grew its position in shares of United Community Banks by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock valued at $133,249,000 after acquiring an additional 556,939 shares during the period. Finally, Northern Trust Corp grew its position in shares of United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock valued at $48,633,000 after acquiring an additional 337,102 shares during the period. Institutional investors own 82.29% of the company’s stock.

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.