DA Davidson Raises United Community Banks (NASDAQ:UCB) Price Target to $36.00

United Community Banks (NASDAQ:UCB - Get Free Report) had its price target raised by analysts at DA Davidson from $34.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target indicates a potential upside of 14.30% from the company's previous close.

A number of other equities analysts also recently issued reports on UCB. Keefe, Bruyette & Woods decreased their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Hovde Group boosted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $34.29.

United Community Banks Trading Down 1.4%

Shares of NASDAQ UCB traded down $0.44 during mid-day trading on Thursday, hitting $31.50. The stock had a trading volume of 226,974 shares, compared to its average volume of 725,091. The business has a 50 day moving average price of $29.74 and a two-hundred day moving average price of $29.63. United Community Banks has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.83 billion, a P/E ratio of 15.44 and a beta of 0.78.

United Community Banks (NASDAQ:UCB - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that United Community Banks will post 2.52 EPS for the current fiscal year.

Institutional Trading of United Community Banks

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in United Community Banks by 2.9% during the first quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company's stock valued at $403,295,000 after acquiring an additional 404,866 shares during the period. FMR LLC bought a new stake in United Community Banks during the 4th quarter valued at approximately $310,166,000. Dimensional Fund Advisors LP lifted its holdings in United Community Banks by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,151,914 shares of the company's stock worth $173,047,000 after purchasing an additional 92,952 shares in the last quarter. Capital Research Global Investors bought a new position in United Community Banks in the 4th quarter worth approximately $148,763,000. Finally, Earnest Partners LLC bought a new position in United Community Banks in the 4th quarter worth approximately $113,536,000. Hedge funds and other institutional investors 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.

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