Analysts Set United Community Banks, Inc. (NASDAQ:UCB) PT at $33.14

United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $33.14.

A number of brokerages recently issued reports on UCB. Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $32.00 to $31.00 in a report on Monday, April 7th. Stephens restated an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. DA Davidson cut their target price on United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price target on 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, Piper Sandler raised their price objective on United Community Banks from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd.

United Community Banks Price Performance

United Community Banks stock traded down $0.41 during trading hours on Friday, reaching $28.20. 155,833 shares of the stock were exchanged, compared to its average volume of 662,262. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. United Community Banks has a twelve month low of $22.93 and a twelve month high of $35.38. The company has a market cap of $3.37 billion, a P/E ratio of 13.82 and a beta of 0.75. The stock has a 50 day moving average of $27.19 and a two-hundred day moving average of $30.53.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Sunday, June 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.40%. United Community Banks's payout ratio is 45.50%.

Insider Buying and Selling

In related news, Director Sally Pope Davis purchased 1,800 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $28.19 per share, with a total value of $50,742.00. Following the completion of the purchase, the director now owns 3,264 shares in the company, valued at approximately $92,012.16. This trade represents a 122.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Community Banks

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in United Community Banks in the 1st quarter valued at about $26,000. Nomura Asset Management Co. Ltd. purchased a new position in United Community Banks in the fourth quarter worth $31,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks during the 4th quarter valued at $42,000. Versant Capital Management Inc bought a new stake in shares of United Community Banks during the 1st quarter worth $37,000. Finally, Quadrant Capital Group LLC bought a new position in United Community Banks during the fourth quarter valued at about $45,000. 82.29% of the stock is 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.