United Community Banks (NYSE:UCB) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of United Community Banks (NYSE:UCB) from a market perform rating to an outperform rating in a report published on Thursday, Marketbeat reports. The firm currently has $40.00 price target on the stock, up from their prior price target of $36.00.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Zacks Research cut shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. DA Davidson increased their price objective on shares of United Community Banks from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Hovde Group cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research report on Monday, February 9th. Finally, Stephens increased their price objective on shares of United Community Banks from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

United Community Banks Stock Up 4.1%

Shares of UCB opened at $34.84 on Thursday. United Community Banks has a 52 week low of $22.93 and a 52 week high of $36.77. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 13.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $32.74 and a 200-day moving average of $31.93.

United Community Banks (NYSE:UCB) last announced its quarterly earnings results on Wednesday, January 14th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). United Community Banks had a net margin of 21.35% and a return on equity of 9.49%. During the same period in the prior year, the firm earned $0.61 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis.

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.00 annualized dividend and a yield of 2.9%. United Community Banks’s dividend payout ratio (DPR) is presently 38.31%.

Insiders Place Their Bets

In related news, CAO Alan H. Kumler sold 12,043 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $35.36, for a total value of $425,840.48. Following the transaction, the chief accounting officer owned 21,096 shares of the company’s stock, valued at approximately $745,954.56. This trade represents a 36.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On United Community Banks

Several large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its position in United Community Banks by 3.1% in the 4th quarter. Cerity Partners LLC now owns 9,955 shares of the company’s stock valued at $311,000 after acquiring an additional 298 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of United Community Banks by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 17,808 shares of the company’s stock worth $556,000 after buying an additional 345 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of United Community Banks by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 11,761 shares of the company’s stock worth $367,000 after buying an additional 365 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of United Community Banks by 10.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,880 shares of the company’s stock worth $123,000 after buying an additional 372 shares in the last quarter. Finally, Patten & Patten Inc. TN lifted its position in shares of United Community Banks by 4.8% during the 4th quarter. Patten & Patten Inc. TN now owns 8,266 shares of the company’s stock worth $258,000 after buying an additional 375 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

About United Community Banks

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.