United Community Banks, Inc. (NASDAQ:UCBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $30.00 target price on the financial services provider’s stock. Zacks Investment Research’s price objective indicates a potential upside of 11.98% from the company’s previous close.

Several other brokerages have also recently issued reports on UCBI. Keefe, Bruyette & Woods cut United Community Banks from an “outperform” rating to a “market perform” rating in a report on Tuesday. Hovde Group cut United Community Banks from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $22.00 to $23.00 in a report on Thursday, October 27th. Finally, Raymond James Financial Inc. raised United Community Banks from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $22.00 to $24.00 in a report on Thursday, October 6th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.25.

United Community Banks (NASDAQ:UCBI) opened at 26.79 on Wednesday. The company has a market capitalization of $1.90 billion and a price-to-earnings ratio of 21.06. United Community Banks has a 52 week low of $15.74 and a 52 week high of $27.28. The company’s 50-day moving average price is $23.03 and its 200-day moving average price is $20.55.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. During the same period last year, the firm posted $0.33 earnings per share. Equities analysts forecast that United Community Banks will post $1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.19%.

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Several institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its position in shares of United Community Banks by 137.8% in the second quarter. Sei Investments Co. now owns 5,466 shares of the financial services provider’s stock valued at $100,000 after buying an additional 3,167 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of United Community Banks by 950.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 6,300 shares of the financial services provider’s stock valued at $115,000 after buying an additional 5,700 shares in the last quarter. PineBridge Investments L.P. raised its position in shares of United Community Banks by 19.8% in the second quarter. PineBridge Investments L.P. now owns 8,916 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,472 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of United Community Banks by 35.7% in the second quarter. Teacher Retirement System of Texas now owns 9,391 shares of the financial services provider’s stock valued at $172,000 after buying an additional 2,470 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of United Community Banks during the third quarter valued at $204,000.

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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