United Community Banks (UCBI) Downgraded by BidaskClub

BidaskClub cut shares of United Community Banks (NASDAQ:UCBI) from a buy rating to a hold rating in a report issued on Wednesday.

Several other equities analysts have also recently weighed in on UCBI. SunTrust Banks cut shares of United Community Banks from a buy rating to a hold rating in a research report on Tuesday. Zacks Investment Research cut shares of United Community Banks from a buy rating to a hold rating in a research report on Wednesday, March 28th. Finally, ValuEngine cut shares of United Community Banks from a buy rating to a hold rating in a research report on Monday, April 2nd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. United Community Banks presently has an average rating of Buy and a consensus price target of $31.20.

United Community Banks stock opened at $30.67 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.82 and a beta of 0.87. United Community Banks has a 1 year low of $24.47 and a 1 year high of $34.18.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The firm had revenue of $121.90 million for the quarter, compared to analyst estimates of $127.02 million. United Community Banks had a net margin of 16.20% and a return on equity of 10.49%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. sell-side analysts predict that United Community Banks will post 2.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.96%. This is a boost from United Community Banks’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, June 14th. United Community Banks’s payout ratio is presently 36.81%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC purchased a new position in United Community Banks during the 1st quarter worth approximately $114,000. Principal Financial Group Inc. grew its position in United Community Banks by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,229,402 shares of the financial services provider’s stock worth $38,911,000 after purchasing an additional 22,633 shares in the last quarter. WINTON GROUP Ltd purchased a new position in United Community Banks during the 1st quarter worth approximately $231,000. Xact Kapitalforvaltning AB grew its position in United Community Banks by 49.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,939 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Royal Bank of Canada grew its position in United Community Banks by 8.2% during the 1st quarter. Royal Bank of Canada now owns 1,780,520 shares of the financial services provider’s stock worth $56,353,000 after purchasing an additional 135,377 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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