United Community Banks, Inc. (UCBI) Lowered to “Sell” at BidaskClub
BidaskClub downgraded shares of United Community Banks, Inc. (NASDAQ:UCBI) from a hold rating to a sell rating in a report issued on Wednesday morning.
Several other equities research analysts have also recently weighed in on UCBI. Zacks Investment Research cut United Community Banks from a buy rating to a hold rating in a research note on Wednesday, May 3rd. Hovde Group upgraded United Community Banks from a market perform rating to an outperform rating and set a $31.00 target price for the company in a research note on Wednesday, May 3rd. Stephens restated a hold rating and set a $30.00 target price on shares of United Community Banks in a research note on Tuesday, June 27th. ValuEngine upgraded United Community Banks from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Raymond James Financial, Inc. cut their target price on United Community Banks from $32.00 to $31.00 and set a strong-buy rating for the company in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $30.67.
United Community Banks (NASDAQ:UCBI) traded down 0.85% during midday trading on Wednesday, reaching $25.80. The company had a trading volume of 338,380 shares. The stock has a market cap of $1.83 billion, a P/E ratio of 17.67 and a beta of 0.88. United Community Banks has a 12 month low of $19.60 and a 12 month high of $30.47. The firm has a 50-day moving average of $27.76 and a 200-day moving average of $27.68.
United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $108 million during the quarter, compared to analysts’ expectations of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. On average, equities analysts expect that United Community Banks will post $1.63 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 14th. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.55%. United Community Banks’s dividend payout ratio is presently 24.66%.
A number of large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in United Community Banks by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 704,404 shares of the financial services provider’s stock valued at $20,864,000 after buying an additional 4,099 shares during the last quarter. GW&K Investment Management LLC boosted its stake in United Community Banks by 15.5% in the first quarter. GW&K Investment Management LLC now owns 9,310 shares of the financial services provider’s stock valued at $258,000 after buying an additional 1,250 shares during the last quarter. Capstone Asset Management Co. boosted its stake in United Community Banks by 1.0% in the first quarter. Capstone Asset Management Co. now owns 18,762 shares of the financial services provider’s stock valued at $520,000 after buying an additional 181 shares during the last quarter. TNB Financial acquired a new stake in United Community Banks during the first quarter valued at $865,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of United Community Banks by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the financial services provider’s stock worth $800,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.
About United Community Banks
United Community Banks, Inc (United) 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.
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