United Community Banks (NYSE:UCB) Downgraded to “Market Perform” Rating by Hovde Group

Hovde Group lowered shares of United Community Banks (NYSE:UCB) from an outperform rating to a market perform rating in a report released on Monday, Marketbeat.com reports. They currently have $38.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of United Community Banks in a report on Wednesday, January 21st. DA Davidson lifted their price objective on shares of United Community Banks from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Zacks Research raised shares of United Community Banks from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 15th. Keefe, Bruyette & Woods lifted their price target on United Community Banks from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 15th. Finally, Stephens upped their price objective on United Community Banks from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

United Community Banks Trading Down 1.6%

Shares of NYSE:UCB opened at $35.91 on Monday. The company’s 50-day moving average price is $33.04 and its two-hundred day moving average price is $31.77. United Community Banks has a one year low of $22.93 and a one year high of $36.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $4.37 billion, a PE ratio of 13.76 and a beta of 0.84.

United Community Banks (NYSE:UCB) last released its earnings results on Wednesday, January 14th. The company reported $0.71 earnings per share (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%. The company had revenue of $278.39 million during the quarter, compared to analyst estimates of $273.80 million. During the same period in the prior year, the firm posted $0.61 EPS. United Community Banks’s revenue was up 11.0% compared to the same quarter last year.

United Community Banks announced that its board has initiated a share buyback plan on Monday, December 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 15th. United Community Banks’s payout ratio is presently 38.31%.

Insider Buying and Selling at United Community Banks

In other news, CAO Alan H. Kumler sold 12,043 shares of United Community Banks stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $35.36, for a total value of $425,840.48. Following the completion of the sale, the chief accounting officer directly owned 21,096 shares in the company, valued at approximately $745,954.56. The trade was a 36.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Institutional Trading of United Community Banks

Several large investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in United Community Banks during the second quarter worth about $25,000. First Horizon Corp bought a new position in United Community Banks in the third quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its position in United Community Banks by 213.8% during the second quarter. Hantz Financial Services Inc. now owns 1,048 shares of the company’s stock valued at $31,000 after purchasing an additional 714 shares in the last quarter. Covestor Ltd raised its position in 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 purchasing an additional 657 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in United Community Banks during the third quarter worth $37,000. 82.29% of the stock is owned by institutional investors and hedge funds.

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.