United Community Banks (NYSE:UCB) Price Target Raised to $41.00

United Community Banks (NYSE:UCB) had its price target lifted by equities research analysts at Keefe, Bruyette & Woods from $40.00 to $41.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 16.85% from the stock’s current price.

A number of other research firms have also issued reports on UCB. Weiss Ratings upgraded United Community Banks from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 30th. TD Cowen upgraded shares of United Community Banks to a “strong-buy” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson boosted their price objective on shares of United Community Banks from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Finally, Piper Sandler raised their target price on United Community Banks from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

United Community Banks Trading Down 0.7%

Shares of NYSE UCB traded down $0.25 during midday trading on Wednesday, hitting $35.09. The stock had a trading volume of 288,407 shares, compared to its average volume of 891,359. The company has a fifty day moving average price of $35.57 and a 200 day moving average price of $33.84. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 11.54 and a beta of 0.81. United Community Banks has a 1-year low of $28.65 and a 1-year high of $37.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

United Community Banks (NYSE:UCB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $279.28 million for the quarter. United Community Banks had a return on equity of 9.61% and a net margin of 24.43%. On average, analysts predict that United Community Banks will post 2.98 earnings per share for the current year.

Insider Activity

In other news, EVP Richard Bradshaw sold 1,424 shares of United Community Banks stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $35.09, for a total transaction of $49,968.16. Following the sale, the executive vice president owned 83,228 shares of the company’s stock, valued at approximately $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jefferson L. Harralson sold 25,000 shares of United Community Banks stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.41, for a total value of $885,250.00. Following the sale, the executive vice president directly owned 37,433 shares in the company, valued at $1,325,502.53. The trade was a 40.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UCB. Caitong International Asset Management Co. Ltd bought a new position in United Community Banks during the fourth quarter worth about $29,000. Covestor Ltd boosted its position in shares of United Community Banks by 196.1% in the 4th quarter. Covestor Ltd now owns 992 shares of the company’s stock worth $31,000 after purchasing an additional 657 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of United Community Banks in the 2nd quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Community Banks during the 2nd quarter worth about $54,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of United Community Banks during the 4th quarter worth about $62,000. Institutional investors own 82.29% of the company’s stock.

About United Community Banks

United Community Banks, Inc is the bank holding company for United Community Bank, a regional financial institution headquartered in Blairsville, Georgia. Founded in 1950, the company provides banking and financial services to individuals, businesses and institutions across the Southeastern United States.

United Community Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, mortgages, treasury management and other financial services.