United Community Banks (NASDAQ:UCB) Hits New 52-Week High – What’s Next?

United Community Banks, Inc. (NASDAQ:UCB)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $33.62 and last traded at $33.49, with a volume of 11574 shares. The stock had previously closed at $33.13.

Analysts Set New Price Targets

A number of brokerages recently commented on UCB. Piper Sandler decreased their target price 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 decreased their price objective on United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, October 25th.

United Community Banks Stock Performance

The stock has a market cap of $4.09 billion, a PE ratio of 22.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50-day simple moving average is $29.68.

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

United Community Banks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.96 annualized dividend and a yield of 2.80%. United Community Banks’s payout ratio is 62.34%.

Insider Buying and Selling at United Community Banks

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.76, for a total transaction of $285,234.00. Following the completion of the transaction, the chief financial officer now directly owns 43,991 shares of the company’s stock, valued at approximately $1,221,190.16. This represents a 18.93 % decrease in their ownership of the stock. The sale 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.

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.