United Community Banks (NYSE:UCB) Price Target Lowered to $37.00 at Hovde Group

United Community Banks (NYSE:UCB) had its price objective decreased by Hovde Group from $38.00 to $37.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. Hovde Group currently has a market perform rating on the stock.

UCB has been the topic of several other reports. Piper Sandler lifted their price target on shares of United Community Banks from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Stephens lifted their price target on shares of United Community Banks from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Keefe, Bruyette & Woods upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $40.00 in a research note on Thursday, April 9th. Weiss Ratings upgraded shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. Finally, Zacks Research lowered shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

United Community Banks Stock Up 1.9%

Shares of UCB stock opened at $33.71 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. United Community Banks has a 1 year low of $26.88 and a 1 year high of $36.77. The firm’s fifty day moving average price is $32.35 and its two-hundred day moving average price is $32.10. The firm has a market capitalization of $4.03 billion, a P/E ratio of 12.39 and a beta of 0.82.

United Community Banks (NYSE:UCB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The firm had revenue of $277.30 million for the quarter. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that United Community Banks will post 2.99 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, March 13th. United Community Banks’s dividend payout ratio (DPR) is currently 36.76%.

Institutional Trading of United Community Banks

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of United Community Banks by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,514,731 shares of the company’s stock worth $453,150,000 after buying an additional 120,156 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of United Community Banks by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,337,524 shares of the company’s stock worth $198,681,000 after buying an additional 61,465 shares during the last quarter. Invesco Ltd. lifted its stake in shares of United Community Banks by 7.4% during the 4th quarter. Invesco Ltd. now owns 1,805,308 shares of the company’s stock worth $56,362,000 after buying an additional 124,347 shares during the last quarter. Norges Bank acquired a new stake in shares of United Community Banks during the 4th quarter worth about $48,450,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of United Community Banks by 70.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,380,627 shares of the company’s stock worth $43,103,000 after buying an additional 571,296 shares during the last quarter. Institutional investors and hedge funds 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.