United Community Banks (NASDAQ:UCBI) Rating Increased to Sell at StockNews.com

United Community Banks (NASDAQ:UCBI) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

UCBI has been the subject of several other research reports. Stephens raised their price target on United Community Banks from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 20th. DA Davidson decreased their price target on United Community Banks from $31.50 to $30.00 and set a “buy” rating for the company in a research note on Thursday, September 14th. Keefe, Bruyette & Woods lowered United Community Banks from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $33.00 to $30.00 in a research report on Thursday, July 20th. Piper Sandler lowered United Community Banks from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $27.00 in a research report on Thursday, October 19th. Finally, Truist Financial cut their price target on United Community Banks from $30.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, United Community Banks has a consensus rating of “Hold” and an average price target of $29.20.

United Community Banks Trading Up 0.6 %

Shares of NASDAQ:UCBI opened at $22.98 on Friday. United Community Banks has a 1 year low of $20.37 and a 1 year high of $39.50. The stock’s fifty day moving average price is $24.60 and its 200-day moving average price is $25.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $2.73 billion, a P/E ratio of 10.54 and a beta of 1.01.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. United Community Banks had a return on equity of 9.33% and a net margin of 20.05%. The company had revenue of $355.12 million for the quarter, compared to the consensus estimate of $246.45 million. During the same quarter in the prior year, the company earned $0.75 earnings per share. Sell-side analysts expect that United Community Banks will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On United Community Banks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC increased its stake in United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock worth $29,000 after buying an additional 474 shares in the last quarter. Beacon Capital Management LLC purchased a new position in United Community Banks in the second quarter worth approximately $26,000. Belpointe Asset Management LLC grew its position in United Community Banks by 113.1% in the first quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 735 shares during the period. Carmel Capital Partners LLC purchased a new position in United Community Banks in the third quarter worth approximately $36,000. Finally, State of Wyoming lifted its stake in United Community Banks by 25.9% during the second quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 80.99% 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.