United Community Banks (NYSE:UCB) Earns Buy Rating from DA Davidson

United Community Banks (NYSE:UCB)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $39.00 target price on the stock. DA Davidson’s target price points to a potential upside of 15.90% from the company’s previous close.

Several other research firms have also recently weighed in on UCB. Keefe, Bruyette & Woods raised United Community Banks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $40.00 in a research report on Thursday, April 9th. Piper Sandler raised their target price on United Community Banks from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stephens raised their target price on United Community Banks from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings raised United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Finally, Zacks Research cut United Community Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

United Community Banks Stock Up 2.3%

UCB opened at $33.65 on Wednesday. United Community Banks has a 1-year low of $26.24 and a 1-year high of $36.77. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 12.37 and a beta of 0.82. The business has a 50 day moving average of $32.40 and a 200-day moving average of $32.08.

United Community Banks (NYSE:UCB) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The company had revenue of $277.30 million during the quarter. During the same period in the prior year, the company posted $0.58 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Community Banks will post 2.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Corp bought a new position in shares of United Community Banks during the third quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of United Community Banks during the fourth quarter valued at $29,000. Covestor Ltd lifted its holdings in shares of United Community Banks by 196.1% during the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after acquiring an additional 657 shares during the period. Salomon & Ludwin LLC bought a new position in shares of United Community Banks during the third quarter valued at $37,000. Finally, Torren Management LLC bought a new position in shares of United Community Banks during the fourth quarter valued at $39,000. 82.29% of the stock is owned by institutional investors.

United Community Banks Company Profile

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.