United Community Banks (NASDAQ:UCBI) Price Target Lowered to $28.00 at Piper Sandler

United Community Banks (NASDAQ:UCBI - Get Free Report) had its price target cut by equities research analysts at Piper Sandler from $30.00 to $28.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price points to a potential upside of 8.44% from the company's previous close.

Other research analysts have also issued research reports about the stock. TheStreet lowered shares of United Community Banks from a "b" rating to a "c+" rating in a research note on Wednesday, January 24th. StockNews.com upgraded shares of United Community Banks to a "sell" rating in a report on Wednesday, January 17th. DA Davidson restated a "buy" rating on shares of United Community Banks in a report on Monday, January 15th. Finally, Truist Financial lowered their target price on shares of United Community Banks from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.60.

United Community Banks Stock Down 1.9 %

UCBI traded down $0.51 during trading on Thursday, reaching $25.82. The company had a trading volume of 474,418 shares, compared to its average volume of 645,621. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. United Community Banks has a 12 month low of $20.37 and a 12 month high of $30.75. The business's fifty day moving average price is $25.63 and its 200 day moving average price is $26.22. The company has a market cap of $3.07 billion, a P/E ratio of 16.50 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The business's revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that United Community Banks will post 2.15 EPS for the current year.

Hedge Funds Weigh In On United Community Banks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of United Community Banks by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider's stock valued at $396,560,000 after purchasing an additional 274,275 shares during the last quarter. FMR LLC boosted its position in shares of United Community Banks by 15.1% in the third 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. Dimensional Fund Advisors LP boosted its position in shares of United Community Banks by 13.9% in the fourth 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. Northern Trust Corp boosted its position in shares of United Community Banks by 21.4% in the third 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. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of United Community Banks by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,777,906 shares of the financial services provider's stock valued at $52,022,000 after acquiring an additional 5,848 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.