United Community Banks (NASDAQ:UCB - Get Free Report) had its price objective increased by research analysts at Hovde Group from $35.00 to $36.00 in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage presently has an "outperform" rating on the stock. Hovde Group's price target points to a potential upside of 13.49% from the company's previous close.
UCB has been the topic of a number of other research reports. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods cut their target price on 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. DA Davidson reduced their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $33.86.
Get Our Latest Report on UCB
United Community Banks Stock Performance
Shares of United Community Banks stock traded down $0.21 during midday trading on Thursday, hitting $31.72. The company had a trading volume of 102,485 shares, compared to its average volume of 724,022. The stock has a market cap of $3.85 billion, a PE ratio of 15.56 and a beta of 0.78. United Community Banks has a 1-year low of $22.93 and a 1-year high of $35.38. The business's 50 day simple moving average is $29.74 and its two-hundred day simple moving average is $29.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.
United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts predict that United Community Banks will post 2.52 EPS for the current fiscal year.
Hedge Funds Weigh In On United Community Banks
Several institutional investors and hedge funds have recently modified their holdings of UCB. M&T Bank Corp purchased a new position in United Community Banks in the first quarter worth approximately $926,000. Amalgamated Bank purchased a new position in United Community Banks in the first quarter worth approximately $957,000. Principal Financial Group Inc. purchased a new position in United Community Banks in the first quarter worth approximately $16,721,000. GAMMA Investing LLC purchased a new position in United Community Banks in the first quarter worth approximately $132,000. Finally, New York State Teachers Retirement System purchased a new position in United Community Banks in the first quarter worth approximately $2,897,000. Hedge funds and other institutional investors own 82.29% of the company's stock.
About United Community Banks
(
Get Free Report)
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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