Brokerages Set United Community Banks, Inc. (NASDAQ:UCBI) PT at $30.60

Shares of United Community Banks, Inc. (NASDAQ:UCBI) have received a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.60.

Several research firms have recently issued reports on UCBI. Piper Sandler lowered their target price on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Truist Financial lowered their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 1st.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $25.46 on Wednesday. United Community Banks has a 12 month low of $21.63 and a 12 month high of $30.75. The firm has a market capitalization of $3.03 billion, a P/E ratio of 16.53 and a beta of 0.92. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $26.60.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The company had revenue of $225.80 million during the quarter, compared to analyst estimates of $232.00 million. During the same period last year, the business earned $0.58 EPS. United Community Banks’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that United Community Banks will post 2.12 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Saturday, June 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, June 14th. United Community Banks’s payout ratio is 59.74%.

Hedge Funds Weigh In On United Community Banks

Hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of United Community Banks by 14.7% in the 3rd quarter. Deutsche Bank AG now owns 54,396 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 6,987 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of United Community Banks by 9.9% during the third quarter. PNC Financial Services Group Inc. now owns 20,697 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 1,870 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of United Community Banks by 116.3% during the third quarter. Envestnet Asset Management Inc. now owns 238,332 shares of the financial services provider’s stock valued at $6,056,000 after buying an additional 128,128 shares during the last quarter. Northern Trust Corp increased its holdings in United Community Banks by 21.4% in the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock worth $48,633,000 after buying an additional 337,102 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in United Community Banks by 8.0% in the 3rd quarter. Natixis Advisors L.P. now owns 76,715 shares of the financial services provider’s stock worth $1,949,000 after buying an additional 5,657 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

United Community Banks Company Profile

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.