DA Davidson Lowers United Community Banks (NASDAQ:UCB) Price Target to $33.00

United Community Banks (NASDAQ:UCB) had its price target lowered by analysts at DA Davidson from $38.00 to $33.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 20.92% from the company’s current price.

Several other brokerages also recently issued reports on UCB. Stephens reissued an “overweight” rating and set a $36.00 price objective on shares of United Community Banks in a research note on Wednesday. Piper Sandler increased their price target on United Community Banks from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, United Community Banks currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

United Community Banks Trading Up 2.5 %

United Community Banks stock opened at $27.29 on Wednesday. The stock has a market cap of $3.26 billion, a PE ratio of 13.38 and a beta of 0.80. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $27.96 and a 200 day moving average price of $30.51. United Community Banks has a 52 week low of $22.93 and a 52 week high of $35.38.

Insider Buying and Selling

In other news, Director Sally Pope Davis acquired 1,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $28.19 per share, with a total value of $50,742.00. Following the completion of the transaction, the director now directly owns 3,264 shares of the company’s stock, valued at $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Harton sold 31,679 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total transaction of $1,072,017.36. Following the transaction, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. The trade was a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of United Community Banks

Several large investors have recently modified their holdings of UCB. Farther Finance Advisors LLC acquired a new stake in United Community Banks during the 4th quarter valued at approximately $80,000. Great Lakes Advisors LLC purchased a new position in shares of United Community Banks during the 4th quarter valued at approximately $3,050,000. Swiss National Bank acquired a new stake in shares of United Community Banks during the fourth quarter worth approximately $7,573,000. Commonwealth Equity Services LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth approximately $273,000. Finally, Natixis Advisors LLC bought a new stake in shares of United Community Banks in the fourth quarter worth $498,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About United Community Banks

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.