United Community Banks, Inc. (NASDAQ:UCBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research firms have also issued reports on UCBI. Hovde Group lowered shares of United Community Banks from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $22.00 to $23.00 in a report on Thursday, October 27th. Raymond James Financial Inc. upgraded shares of United Community Banks from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $22.00 to $24.00 in a report on Thursday, October 6th.

Shares of United Community Banks (NASDAQ:UCBI) opened at 25.99 on Wednesday. United Community Banks has a 1-year low of $15.74 and a 1-year high of $26.09. The firm has a market capitalization of $1.84 billion and a P/E ratio of 20.43. The stock’s 50 day moving average is $21.71 and its 200 day moving average is $20.15.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. During the same quarter last year, the business earned $0.33 earnings per share. Equities analysts predict that United Community Banks will post $1.46 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in shares of United Community Banks by 8.6% in the third quarter. BlackRock Fund Advisors now owns 4,864,853 shares of the financial services provider’s stock worth $102,259,000 after buying an additional 385,805 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of United Community Banks by 16.2% in the second quarter. Vanguard Group Inc. now owns 3,972,284 shares of the financial services provider’s stock worth $72,653,000 after buying an additional 554,912 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of United Community Banks by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,620,851 shares of the financial services provider’s stock worth $47,935,000 after buying an additional 388,764 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of United Community Banks by 5.9% in the third quarter. Victory Capital Management Inc. now owns 2,433,638 shares of the financial services provider’s stock worth $51,155,000 after buying an additional 136,093 shares in the last quarter. Finally, Allianz Asset Management AG purchased a new stake in shares of United Community Banks during the second quarter worth approximately $42,822,000.

About United Community Banks

United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

5 Day Chart for NASDAQ:UCBI

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