Raymond James Financial Reiterates Market Perform Rating for United Community Banks (NASDAQ:UCB)

United Community Banks (NASDAQ:UCB - Get Free Report)'s stock had its "market perform" rating restated by equities research analysts at Raymond James Financial in a report issued on Tuesday, MarketBeat.com reports.

UCB has been the topic of several other research reports. Hovde Group raised shares of United Community Banks from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $32.00 to $31.00 in a research report on Monday, April 7th. DA Davidson lowered their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Finally, Stephens reissued an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $33.14.

United Community Banks Trading Down 1.9%

Shares of UCB opened at $31.18 on Tuesday. United Community Banks has a 52-week low of $22.93 and a 52-week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average is $29.05 and its two-hundred day moving average is $29.66. The stock has a market cap of $3.79 billion, a PE ratio of 15.28 and a beta of 0.78.

Institutional Trading of United Community Banks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in United Community Banks during the fourth quarter worth about $508,000. GAMMA Investing LLC purchased a new stake in United Community Banks during the first quarter worth about $132,000. SG Americas Securities LLC purchased a new stake in United Community Banks during the first quarter worth about $665,000. Oppenheimer Asset Management Inc. purchased a new stake in United Community Banks during the first quarter worth about $1,598,000. Finally, Mayfair Advisory Group LLC purchased a new stake in United Community Banks during the first quarter worth about $931,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.