United Community Banks' (UCB) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• United Community Banks' stock received a reaffirmed "hold (C+)" rating from Weiss Ratings, indicating a stable outlook from analysts.
• Several brokerages have adjusted their price targets for the stock, with Hovde Group raising it to $36.00 and DA Davidson also setting a target of $36.00, reflecting positive sentiment from some analysts.
• The company reported quarterly earnings of $0.66 per share, surpassing analysts' expectations and showing a revenue increase of 6.1% compared to the same quarter last year.

United Community Banks (NYSE:UCB - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently commented on UCB. Hovde Group increased their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of United Community Banks from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised their price target on shares of United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. DA Davidson raised their price target on shares of United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, 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. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, United Community Banks has a consensus rating of "Hold" and a consensus price target of $34.57.

United Community Banks Stock Performance

United Community Banks stock traded down $0.04 during trading on Wednesday, reaching $32.03. 469,490 shares of the company's stock were exchanged, compared to its average volume of 693,747. 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 business's 50-day simple moving average is $31.72. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 14.56 and a beta of 0.83. United Community Banks has a 52-week low of $22.93 and a 52-week high of $35.38.

United Community Banks (NYSE:UCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 17.93% and a return on equity of 8.91%. United Community Banks's revenue was up 6.1% compared to the same quarter last year.

Insider Buying and Selling

In related news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the transaction, the executive vice president owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On United Community Banks

Several institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming lifted its position in United Community Banks by 9.4% during the 1st quarter. State of Wyoming now owns 4,010 shares of the company's stock worth $113,000 after acquiring an additional 344 shares during the last quarter. Xponance Inc. lifted its position in United Community Banks by 5.8% during the 1st quarter. Xponance Inc. now owns 9,094 shares of the company's stock worth $256,000 after acquiring an additional 500 shares during the last quarter. Amalgamated Bank lifted its position in United Community Banks by 1.6% during the 2nd quarter. Amalgamated Bank now owns 34,550 shares of the company's stock worth $1,029,000 after acquiring an additional 534 shares during the last quarter. Great Lakes Advisors LLC lifted its position in United Community Banks by 0.6% during the 1st quarter. Great Lakes Advisors LLC now owns 94,983 shares of the company's stock worth $2,672,000 after acquiring an additional 584 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in United Community Banks by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 56,800 shares of the company's stock worth $1,692,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds 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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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