Zacks Investment Research upgraded shares of United Community Banks, Inc. (NASDAQ:UCBI) from a hold rating to a buy rating in a research note issued to investors on Friday morning. Zacks Investment Research currently has $29.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently commented on UCBI. Raymond James Financial Inc. upgraded United Community Banks from an outperform rating to a strong-buy rating and boosted their target price for the stock from $22.00 to $24.00 in a research report on Thursday, October 6th. Hovde Group cut United Community Banks from an outperform rating to a market perform rating and boosted their target price for the stock from $22.00 to $23.00 in a research report on Thursday, October 27th.

United Community Banks (NASDAQ:UCBI) traded down 1.17% during trading on Friday, reaching $26.22. The company’s stock had a trading volume of 114,593 shares. The stock has a 50-day moving average price of $22.01 and a 200 day moving average price of $20.23. United Community Banks has a 52-week low of $15.74 and a 52-week high of $26.70. The company has a market cap of $1.86 billion and a PE ratio of 20.61.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. During the same period in the prior year, the business earned $0.33 EPS. On average, analysts expect that United Community Banks will post $1.46 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its stake in shares of United Community Banks by 15.2% in the second quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the financial services provider’s stock valued at $569,000 after buying an additional 4,100 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of United Community Banks during the second quarter valued at $1,548,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of United Community Banks during the second quarter valued at $316,000. New York State Teachers Retirement System boosted its stake in shares of United Community Banks by 3.7% in the second quarter. New York State Teachers Retirement System now owns 101,993 shares of the financial services provider’s stock valued at $1,865,000 after buying an additional 3,600 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of United Community Banks by 8.2% in the second quarter. Nordea Investment Management AB now owns 110,700 shares of the financial services provider’s stock valued at $2,025,000 after buying an additional 8,400 shares in the last quarter.

United Community Banks Company Profile

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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