United Community Banks (NYSE:UCB) Trading 4.9% Higher - Time to Buy?

Key Points

• Shares of United Community Banks traded up 4.9% to $32.81, with trading volume increasing by 66% compared to the average session.
• Analysts provided mixed ratings, with one upgrading the stock to a "hold" rating, while others maintained or downgraded their ratings.
• The company reported earnings of $0.66 per share, surpassing estimates, but had revenue slightly below expectations at $260.24 million.

Shares of United Community Banks, Inc. (NYSE:UCB - Get Free Report) traded up 4.9% during mid-day trading on Friday . The company traded as high as $32.95 and last traded at $32.81. 986,154 shares traded hands during trading, an increase of 66% from the average session volume of 592,758 shares. The stock had previously closed at $31.29.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of United Community Banks from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial cut shares of United Community Banks from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".

United Community Banks Price Performance

The company has a market cap of $3.99 billion, a price-to-earnings ratio of 14.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.79. The company's 50 day moving average price is $30.56.

United Community Banks (NYSE:UCB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.04. The firm had revenue of $260.24 million during the quarter, compared to analysts' expectations of $261.65 million. United Community Banks had a net margin of 17.93% and a return on equity of 8.91%.

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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