United Community Banks (NYSE:UCB) Stock Moved Up to Strong-Buy by Zacks Research

by · The Markets Daily

United Community Banks (NYSE:UCB – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

A number of other research analysts have also commented on UCB. Wall Street Zen upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. DA Davidson increased their price objective on United Community Banks from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Piper Sandler increased their price objective on United Community Banks from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Weiss Ratings reissued a “buy (b)” rating on shares of United Community Banks in a research note on Friday, September 25th. Finally, Stephens boosted their target price on United Community Banks from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $40.00.

Read Our Latest Stock Report on UCB

United Community Banks Stock Up 3.7%

UCB stock opened at $37.18 on Wednesday. United Community Banks has a twelve month low of $28.65 and a twelve month high of $37.24. The company has a quick ratio of 0.83, a current ratio of 0.78 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $34.74 and its 200-day moving average is $34.40. The firm has a market capitalization of $4.48 billion, a PE ratio of 31.51 and a beta of 0.88.

United Community Banks (NYSE:UCB – Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $291.90 million during the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. Sell-side analysts expect that United Community Banks will post 3.00 EPS for the current fiscal year.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Jefferson Harralson sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total value of $885,250.00. Following the sale, the executive vice president owned 37,433 shares in the company, valued at approximately $1,325,502.53. This represents a 40.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Bradshaw sold 1,424 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $35.09, for a total value of $49,968.16. Following the completion of the sale, the executive vice president directly owned 83,228 shares in the company, valued at approximately $2,920,470.52. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is owned by corporate insiders.

Institutional Trading of United Community Banks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of United Community Banks by 10.1% in the second quarter. Allworth Financial LP now owns 3,256 shares of the company’s stock worth $114,000 after buying an additional 300 shares during the period. Versant Capital Management Inc grew its stake in shares of United Community Banks by 13.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,894 shares of the company’s stock valued at $102,000 after acquiring an additional 338 shares during the period. HighTower Advisors LLC grew its stake in shares of United Community Banks by 1.0% during the 2nd quarter. HighTower Advisors LLC now owns 55,543 shares of the company’s stock valued at $1,949,000 after acquiring an additional 574 shares during the period. QRG Capital Management Inc. grew its stake in shares of United Community Banks by 7.6% during the 2nd quarter. QRG Capital Management Inc. now owns 8,448 shares of the company’s stock valued at $296,000 after acquiring an additional 596 shares during the period. Finally, HB Wealth Management LLC increased its holdings in United Community Banks by 4.2% in the 1st quarter. HB Wealth Management LLC now owns 19,540 shares of the company’s stock worth $615,000 after acquiring an additional 779 shares in the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

About United Community Banks

(Get Free Report)

United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.

United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.

Further Reading