United Community Banks (UCBI) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of United Community Banks (NASDAQ:UCBI) from a strong sell rating to a sell rating in a research note published on Tuesday.

UCBI has been the topic of a number of other research reports. Zacks Investment Research raised shares of United Community Banks from a sell rating to a hold rating in a report on Friday, October 5th. Hovde Group set a $34.00 price target on shares of United Community Banks and gave the company a buy rating in a report on Monday, July 30th. ValuEngine downgraded shares of United Community Banks from a hold rating to a sell rating in a report on Friday, September 28th. FIG Partners reaffirmed an outperform rating on shares of United Community Banks in a report on Thursday, September 20th. Finally, Stephens reaffirmed a hold rating and set a $24.00 price target on shares of United Community Banks in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $28.40.

UCBI stock traded up $0.02 during trading on Tuesday, hitting $25.14. 26,750 shares of the stock traded hands, compared to its average volume of 448,190. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.53 and a beta of 0.91. United Community Banks has a 1 year low of $22.83 and a 1 year high of $34.18.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $134.50 million for the quarter, compared to the consensus estimate of $136.53 million. United Community Banks had a net margin of 19.16% and a return on equity of 11.64%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, research analysts predict that United Community Banks will post 2.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Saturday, September 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, September 13th. United Community Banks’s payout ratio is 36.81%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new position in shares of United Community Banks in the third quarter worth approximately $660,000. Victory Capital Management Inc. boosted its holdings in shares of United Community Banks by 0.6% in the third quarter. Victory Capital Management Inc. now owns 1,433,286 shares of the financial services provider’s stock worth $39,974,000 after buying an additional 9,233 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of United Community Banks by 7.1% in the third quarter. Arizona State Retirement System now owns 114,805 shares of the financial services provider’s stock worth $3,202,000 after buying an additional 7,652 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of United Community Banks in the third quarter worth approximately $214,000. Finally, First Trust Advisors LP boosted its holdings in shares of United Community Banks by 16.2% in the third quarter. First Trust Advisors LP now owns 130,228 shares of the financial services provider’s stock worth $3,632,000 after buying an additional 18,154 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

About United Community Banks

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.

Further Reading: Asset Allocation

Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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