United Community Banks (NASDAQ:UCB) Raised to Outperform at Raymond James

Raymond James upgraded shares of United Community Banks (NASDAQ:UCB) from a market perform rating to an outperform rating in a research report released on Thursday morning, Marketbeat reports. The firm currently has $35.00 price objective on the stock.

UCB has been the topic of several other research reports. Piper Sandler decreased their price objective on United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Truist Financial reduced their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, October 25th.

United Community Banks Trading Up 1.8 %

Shares of UCB stock opened at $31.60 on Thursday. The firm has a market cap of $3.77 billion, a P/E ratio of 20.52 and a beta of 0.92. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $31.59. United Community Banks has a twelve month low of $24.04 and a twelve month high of $35.38.

United Community Banks (NASDAQ:UCB) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). United Community Banks had a net margin of 13.04% and a return on equity of 8.36%. The firm had revenue of $384.39 million during the quarter, compared to analyst estimates of $237.90 million. During the same period in the prior year, the firm earned $0.45 EPS. As a group, research analysts predict that United Community Banks will post 2.23 earnings per share for the current year.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. United Community Banks’s dividend payout ratio is presently 62.34%.

Insider Transactions at United Community Banks

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.76, for a total value of $285,234.00. Following the transaction, the chief financial officer now owns 43,991 shares in the company, valued at approximately $1,221,190.16. This trade represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

About United Community Banks

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.