SunTrust Banks, Inc. Reaffirms Buy Rating for United Community Banks, Inc. (UCBI)
United Community Banks, Inc. (NASDAQ:UCBI)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a note issued to investors on Thursday. They presently have a $33.00 target price on the financial services provider’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 15.99% from the stock’s previous close.
Several other research firms have also recently weighed in on UCBI. Stephens reiterated a “hold” rating and set a $29.00 price objective on shares of United Community Banks in a report on Wednesday, July 26th. Zacks Investment Research cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Raymond James Financial, Inc. cut their price objective on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 27th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, FIG Partners upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. United Community Banks presently has a consensus rating of “Buy” and a consensus price target of $31.00.
United Community Banks (NASDAQ UCBI) traded down 0.49% during mid-day trading on Thursday, reaching $28.31. 191,167 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $26.86 and its 200 day moving average price is $27.12. The stock has a market capitalization of $2.01 billion, a PE ratio of 19.39 and a beta of 0.87. United Community Banks has a 12 month low of $20.26 and a 12 month high of $30.47.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The firm had revenue of $108.00 million for the quarter, compared to analysts’ expectations of $110.49 million. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that United Community Banks will post $1.63 EPS for the current year.
In other news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $26.06, for a total transaction of $300,993.00. Following the transaction, the executive vice president now owns 16,858 shares in the company, valued at approximately $439,319.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.18% of the company’s stock.
A number of institutional investors have recently made changes to their positions in UCBI. Riverhead Capital Management LLC raised its position in United Community Banks by 134.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after buying an additional 3,090 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in United Community Banks in the 1st quarter valued at approximately $168,000. PNC Financial Services Group Inc. raised its position in United Community Banks by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock valued at $210,000 after buying an additional 295 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in United Community Banks in the 2nd quarter valued at approximately $211,000. Finally, Amalgamated Bank raised its position in United Community Banks by 1.5% in the 2nd quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after buying an additional 140 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.
United Community Banks Company Profile
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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