United Community Banks, Inc. (NYSE:UCB) Given Consensus Rating of “Moderate Buy” by Analysts

United Community Banks, Inc. (NYSE:UCB) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.40.

A number of research analysts have weighed in on UCB shares. DA Davidson increased their target price on United Community Banks from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler boosted their price target on United Community Banks from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen raised shares of United Community Banks to a “strong-buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday.

United Community Banks Trading Up 0.4%

Shares of UCB stock opened at $35.30 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. United Community Banks has a 12-month low of $28.65 and a 12-month high of $37.18. The stock has a market capitalization of $4.26 billion, a P/E ratio of 11.61 and a beta of 0.81. The firm’s 50 day moving average is $35.58 and its 200 day moving average is $33.81.

United Community Banks (NYSE:UCB) last announced its earnings results on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $279.28 million for the quarter. United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. Research analysts expect that United Community Banks will post 2.98 earnings per share for the current year.

United Community Banks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This is an increase from United Community Banks’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. United Community Banks’s dividend payout ratio is currently 32.89%.

Insider Activity at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,424 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $35.09, for a total value of $49,968.16. Following the transaction, the executive vice president directly owned 83,228 shares in the company, valued at approximately $2,920,470.52. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jefferson Harralson sold 25,000 shares of United Community Banks stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total transaction of $885,250.00. Following the transaction, the executive vice president owned 37,433 shares in the company, valued at $1,325,502.53. This represents a 40.04% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in United Community Banks during the second quarter valued at about $925,000. Integrated Wealth Concepts LLC bought a new position in shares of United Community Banks in the second quarter worth about $37,000. Squarepoint Ops LLC lifted its position in shares of United Community Banks by 71.6% during the 2nd quarter. Squarepoint Ops LLC now owns 48,011 shares of the company’s stock valued at $1,685,000 after buying an additional 20,039 shares in the last quarter. Allworth Financial LP lifted its position in shares of United Community Banks by 10.1% during the 2nd quarter. Allworth Financial LP now owns 3,256 shares of the company’s stock valued at $114,000 after buying an additional 300 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of United Community Banks during the 2nd quarter valued at approximately $229,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Company Profile

United Community Banks, Inc is the bank holding company for United Community Bank, a regional financial institution headquartered in Blairsville, Georgia. Founded in 1950, the company provides banking and financial services to individuals, businesses and institutions across the Southeastern United States.

United Community Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, mortgages, treasury management and other financial services.