United Community Banks, Inc. (NASDAQ:UCB) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• United Community Banks, Inc. has received an average recommendation of "Hold" from seven brokerage firms, with four recommending hold and three providing buy ratings.
• The company recently raised its quarterly dividend to $0.25, an increase from the previous $0.24, resulting in an annualized yield of 3.1%.
• In its latest earnings report, United Community Banks reported $0.66 earnings per share, exceeding analysts' expectations and reflecting a 6.1% increase in quarterly revenue year-over-year.

United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $34.5714.

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Hovde Group raised their target price on United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Finally, DA Davidson raised their price objective on United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 24th.

United Community Banks Price Performance

Shares of NASDAQ UCB opened at $32.6450 on Tuesday. The firm has a market cap of $3.97 billion, a P/E ratio of 16.00 and a beta of 0.83. 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 1-year low of $22.93 and a 1-year high of $35.38. The business's 50 day moving average is $30.66 and its 200-day moving average is $29.34.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, topping 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 business's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that United Community Banks will post 2.52 earnings per share for the current year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. This is a boost from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. United Community Banks's dividend payout ratio is 45.45%.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the sale, the executive vice president directly owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.43% of the company's stock.

Hedge Funds Weigh In On United Community Banks

Several institutional investors have recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of United Community Banks during the second quarter worth $25,000. Quarry LP purchased a new stake in shares of United Community Banks during the first quarter worth $26,000. Hantz Financial Services Inc. lifted its position in shares of United Community Banks by 213.8% during the second quarter. Hantz Financial Services Inc. now owns 1,048 shares of the company's stock worth $31,000 after acquiring an additional 714 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks during the fourth quarter worth $42,000. Finally, Versant Capital Management Inc purchased a new stake in shares of United Community Banks during the first quarter worth $37,000. 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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