United Community Banks (NASDAQ:UCBI) PT Raised to $32.00 at Keefe, Bruyette & Woods

United Community Banks (NASDAQ:UCBI) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $28.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 4.68% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Truist Financial reduced their price objective on United Community Banks from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Piper Sandler lowered their price objective on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

United Community Banks Trading Up 1.7 %

Shares of NASDAQ UCBI traded up $0.52 during mid-day trading on Thursday, hitting $30.57. 37,749 shares of the company traded hands, compared to its average volume of 583,534. The business has a 50 day moving average of $25.99 and a two-hundred day moving average of $26.31. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 19.51 and a beta of 0.91. United Community Banks has a 1 year low of $21.63 and a 1 year high of $31.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.07. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The business had revenue of $347.00 million for the quarter, compared to the consensus estimate of $238.95 million. During the same period last year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that United Community Banks will post 2.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Community Banks

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of United Community Banks by 438.3% in the first quarter. SG Americas Securities LLC now owns 21,135 shares of the financial services provider’s stock worth $556,000 after buying an additional 17,209 shares during the last quarter. Quantbot Technologies LP bought a new stake in United Community Banks during the first quarter worth approximately $703,000. Rafferty Asset Management LLC grew its holdings in United Community Banks by 85.2% during the fourth quarter. Rafferty Asset Management LLC now owns 157,743 shares of the financial services provider’s stock valued at $4,616,000 after purchasing an additional 72,582 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $346,000. Finally, Private Advisor Group LLC acquired a new stake in shares of United Community Banks in the fourth quarter worth $203,000. 82.29% of the stock is currently owned by institutional investors.

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.