United Community Banks (NASDAQ:UCBI) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research cut shares of United Community Banks (NASDAQ:UCBI) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “United Community Bank is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “

A number of other research firms also recently commented on UCBI. ValuEngine downgraded shares of United Community Banks from a hold rating to a sell rating in a report on Thursday, August 1st. BidaskClub downgraded shares of United Community Banks from a buy rating to a hold rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $29.40.

UCBI stock opened at $26.71 on Wednesday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 12.48 and a beta of 1.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. United Community Banks has a 12 month low of $20.23 and a 12 month high of $31.71. The firm has a 50-day moving average of $27.86 and a two-hundred day moving average of $27.28.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The company had revenue of $142.32 million during the quarter, compared to the consensus estimate of $142.30 million. United Community Banks had a net margin of 27.88% and a return on equity of 12.24%. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, equities analysts forecast that United Community Banks will post 2.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be paid a $0.17 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.55%. United Community Banks’s dividend payout ratio (DPR) is 31.78%.

Several institutional investors have recently bought and sold shares of UCBI. Amundi Pioneer Asset Management Inc. boosted its position in United Community Banks by 680.4% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 51,505 shares of the financial services provider’s stock valued at $9,649,000 after buying an additional 44,905 shares during the period. United Services Automobile Association boosted its position in United Community Banks by 3.5% in the 2nd quarter. United Services Automobile Association now owns 156,079 shares of the financial services provider’s stock valued at $4,458,000 after buying an additional 5,272 shares during the period. Susquehanna International Group LLP purchased a new position in United Community Banks in the 2nd quarter valued at approximately $977,000. Nuveen Asset Management LLC purchased a new position in United Community Banks in the 2nd quarter valued at approximately $34,944,000. Finally, UBS Asset Management Americas Inc. boosted its position in United Community Banks by 5.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 72,467 shares of the financial services provider’s stock valued at $2,070,000 after buying an additional 3,502 shares during the period. 90.16% of the stock is owned by institutional investors and hedge funds.

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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