United Community Banks (NASDAQ:UCBI) Price Target Lowered to $28.00 at Truist Financial

United Community Banks (NASDAQ:UCBIFree Report) had its price objective lowered by Truist Financial from $31.00 to $28.00 in a report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. StockNews.com upgraded shares of United Community Banks to a sell rating in a research report on Wednesday, January 17th. Piper Sandler boosted their price objective on shares of United Community Banks from $28.00 to $30.00 and gave the company a neutral rating in a report on Thursday, January 25th. TheStreet lowered shares of United Community Banks from a b rating to a c+ rating in a research note on Wednesday, January 24th. Finally, DA Davidson reaffirmed a buy rating on shares of United Community Banks in a research note on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United Community Banks has an average rating of Hold and a consensus price target of $31.00.

Read Our Latest Stock Report on UCBI

United Community Banks Stock Down 3.9 %

UCBI stock opened at $25.29 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $3.01 billion, a PE ratio of 16.32 and a beta of 0.94. United Community Banks has a 12 month low of $20.37 and a 12 month high of $30.75. The firm has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $26.23.

United Community Banks (NASDAQ:UCBIGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The business had revenue of $165.70 million during the quarter, compared to the consensus estimate of $226.07 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was down 25.8% on a year-over-year basis. Equities research analysts forecast that United Community Banks will post 2.2 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is currently 59.36%.

Institutional Trading of United Community Banks

Several institutional investors and hedge funds have recently added to or reduced their stakes in UCBI. Price T Rowe Associates Inc. MD increased its holdings in shares of United Community Banks by 0.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,579 shares of the financial services provider’s stock valued at $1,710,000 after purchasing an additional 341 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in United Community Banks by 6.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,498 shares of the financial services provider’s stock valued at $173,000 after buying an additional 351 shares during the last quarter. State of Wyoming raised its holdings in United Community Banks by 25.9% in the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock valued at $47,000 after buying an additional 390 shares during the last quarter. Eagle Bay Advisors LLC increased its position 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 valued at $29,000 after purchasing an additional 474 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in United Community Banks by 0.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 90,617 shares of the financial services provider’s stock valued at $3,234,000 after purchasing an additional 482 shares during the period. 82.29% of the stock is owned by institutional investors.

About United Community Banks

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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.

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