United Community Bank (UCBI) Downgraded by BidaskClub to Buy

United Community Bank (NASDAQ:UCBI) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

A number of other equities research analysts have also recently issued reports on UCBI. Zacks Investment Research upgraded United Community Bank from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, December 27th. Keefe, Bruyette & Woods upgraded United Community Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, January 25th. Finally, ValuEngine cut United Community Bank from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.17.

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Shares of NASDAQ:UCBI opened at $31.62 on Wednesday. United Community Bank has a 12-month low of $24.47 and a 12-month high of $33.60. The company has a market cap of $2,544.94, a PE ratio of 19.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.81 and a quick ratio of 0.81.

United Community Bank (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. United Community Bank had a return on equity of 10.12% and a net margin of 14.14%. The company had revenue of $118.24 million during the quarter, compared to analysts’ expectations of $118.26 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. sell-side analysts predict that United Community Bank will post 2.21 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of United Community Bank by 3.6% in the fourth quarter. BlackRock Inc. now owns 10,158,810 shares of the financial services provider’s stock valued at $285,869,000 after buying an additional 352,963 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of United Community Bank by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,315,185 shares of the financial services provider’s stock valued at $94,615,000 after buying an additional 83,398 shares during the period. Schroder Investment Management Group boosted its stake in shares of United Community Bank by 2.9% in the fourth quarter. Schroder Investment Management Group now owns 2,431,114 shares of the financial services provider’s stock valued at $68,412,000 after buying an additional 67,615 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of United Community Bank by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,189,544 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 41,705 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of United Community Bank by 5.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,908,700 shares of the financial services provider’s stock valued at $53,712,000 after buying an additional 90,675 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

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United Community Bank 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 Bank (NASDAQ:UCBI)

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