BidaskClub Lowers United Community Banks (NASDAQ:UCBI) to Hold

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BidaskClub cut shares of United Community Banks (NASDAQ:UCBI) from a buy rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the company. ValuEngine raised USINAS SIDERURG/S from a sell rating to a hold rating in a research note on Wednesday, May 29th. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $30.17.

Shares of United Community Banks stock opened at $28.10 on Tuesday. United Community Banks has a 52 week low of $20.23 and a 52 week high of $31.71. The company has a fifty day simple moving average of $27.61. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 13.13 and a beta of 1.24. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The business had revenue of $133.30 million for the quarter, compared to analyst estimates of $137.03 million. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that United Community Banks will post 2.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s payout ratio is currently 31.78%.

Hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of United Community Banks by 66.4% in the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after acquiring an additional 1,125,516 shares during the last quarter. Norges Bank purchased a new position in shares of United Community Banks in the 4th quarter valued at about $16,187,000. Janus Henderson Group PLC increased its holdings in shares of United Community Banks by 76.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,664,673 shares of the financial services provider’s stock valued at $41,500,000 after acquiring an additional 718,910 shares during the last quarter. Millennium Management LLC increased its holdings in shares of United Community Banks by 107.0% in the 4th quarter. Millennium Management LLC now owns 1,037,312 shares of the financial services provider’s stock valued at $22,261,000 after acquiring an additional 536,075 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of United Community Banks by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock valued at $73,107,000 after acquiring an additional 398,806 shares during the last quarter. Hedge funds and other institutional investors own 89.50% 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.

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Analyst Recommendations for United Community Banks (NASDAQ:UCBI)

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