United Community Banks (NASDAQ:UCBI) Cut to Hold at BidaskClub
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, March 27th. ValuEngine upgraded shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Sunday, February 24th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.17.
Shares of United Community Banks stock opened at $27.42 on Tuesday. The firm has a market capitalization of $2.16 billion, a P/E ratio of 12.81 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. United Community Banks has a fifty-two week low of $20.23 and a fifty-two week high of $33.67.
A number of hedge funds have recently made changes to their positions in UCBI. Public Employees Retirement System of Ohio lifted its stake in United Community Banks by 60.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,218 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 458 shares in the last quarter. Toronto Dominion Bank purchased a new stake in United Community Banks in the 4th quarter worth $28,000. Oregon Public Employees Retirement Fund purchased a new stake in United Community Banks in the 4th quarter worth $30,000. Versant Capital Management Inc lifted its stake in United Community Banks by 243.8% in the 1st quarter. Versant Capital Management Inc now owns 1,255 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 890 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in United Community Banks in the 1st quarter worth $51,000. Institutional investors and hedge funds own 89.90% of the company’s stock.
About United Community Banks
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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