United Community Banks, Inc. (NASDAQ:UCB) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• United Community Banks, Inc. has received a consensus recommendation of "Hold" from seven research firms, with analysts issuing four hold ratings and three buy ratings.
• The company reported quarterly earnings of $0.66 per share, exceeding analysts' estimates, with a year-over-year revenue increase of 6.1%.
• United Community Banks recently announced a dividend increase to $0.25 per share, up from the previous $0.24, representing a 3.1% dividend yield.

United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $34.5714.

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

United Community Banks Trading Up 0.3%

United Community Banks stock traded up $0.09 during trading hours on Friday, reaching $31.89. 70,196 shares of the company's stock were exchanged, compared to its average volume of 697,629. 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 50 day simple moving average is $31.70 and its 200 day simple moving average is $29.41. United Community Banks has a twelve month low of $22.93 and a twelve month high of $35.38. The firm has a market capitalization of $3.87 billion, a PE ratio of 15.63 and a beta of 0.86.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%.United Community Banks's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that United Community Banks will post 2.52 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's payout ratio is presently 45.45%.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On United Community Banks

A number of institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its position in shares of United Community Banks by 27.5% during the second quarter. Osaic Holdings Inc. now owns 11,127 shares of the company's stock valued at $332,000 after acquiring an additional 2,401 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of United Community Banks in the second quarter valued at approximately $206,000. Squarepoint Ops LLC acquired a new position in shares of United Community Banks in the second quarter valued at approximately $1,468,000. Thrivent Financial for Lutherans grew its holdings in shares of United Community Banks by 1.1% in the second quarter. Thrivent Financial for Lutherans now owns 149,434 shares of the company's stock valued at $4,451,000 after purchasing an additional 1,665 shares in the last quarter. Finally, Continental Advisors LLC acquired a new position in shares of United Community Banks in the second quarter valued at approximately $536,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.