United Community Banks (NYSE:UCB) Stock Rating Upgraded by Zacks Research

United Community Banks (NYSE:UCB) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their price objective on United Community Banks from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. TD Cowen upgraded United Community Banks to a “strong-buy” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods boosted their target price on United Community Banks from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Stephens upped their target price on United Community Banks from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DA Davidson upped 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, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.00.

United Community Banks Trading Up 3.7%

Shares of NYSE:UCB opened at $37.18 on Wednesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 31.51 and a beta of 0.88. United Community Banks has a 1-year low of $28.65 and a 1-year high of $37.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.78. The company has a 50 day moving average price of $34.74 and a 200 day moving average price of $34.40.

United Community Banks (NYSE:UCB) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $291.90 million for the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. On average, research analysts anticipate that United Community Banks will post 3.00 EPS for the current fiscal year.

Insider Activity at United Community Banks

In other United Community Banks news, EVP Jefferson Harralson sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total transaction of $885,250.00. Following the sale, the executive vice president directly owned 37,433 shares of the company’s stock, valued at $1,325,502.53. The trade was a 40.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Bradshaw sold 1,424 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $35.09, for a total transaction of $49,968.16. Following the sale, 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 SEC filing for this sale provides additional information. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Root Financial Partners LLC purchased a new position in United Community Banks during the third quarter valued at approximately $31,000. Willis Investment Counsel purchased a new stake in United Community Banks in the 3rd quarter worth approximately $399,000. Barlow Wealth Partners LLC lifted its position in United Community Banks by 42.0% in the 3rd quarter. Barlow Wealth Partners LLC now owns 8,546 shares of the company’s stock worth $288,000 after buying an additional 2,526 shares in the last quarter. GAMMA Investing LLC lifted its position in United Community Banks by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 8,885 shares of the company’s stock worth $296,000 after buying an additional 1,389 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in shares of United Community Banks by 7.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 27,399 shares of the company’s stock valued at $914,000 after buying an additional 1,936 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.

United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.