United Community Banks (UCBI) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of United Community Banks (NASDAQ:UCBI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $32.00 price target on the financial services provider’s stock.
According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “
Other equities analysts also recently issued reports about the stock. SunTrust Banks reaffirmed a buy rating and issued a $33.00 price target on shares of United Community Banks in a research note on Thursday, October 12th. BidaskClub downgraded shares of United Community Banks from a buy rating to a hold rating in a research note on Saturday, December 9th. Finally, ValuEngine downgraded shares of United Community Banks from a buy rating to a hold rating in a research note on Tuesday, November 14th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $31.14.
Shares of United Community Banks (NASDAQ UCBI) opened at $28.15 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.80 and a current ratio of 0.81. United Community Banks has a one year low of $24.47 and a one year high of $30.47. The stock has a market cap of $2,093.51, a price-to-earnings ratio of 19.02 and a beta of 0.88.
United Community Banks (NASDAQ:UCBI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The company had revenue of $109.35 million for the quarter, compared to the consensus estimate of $114.65 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was up 3.5% on a year-over-year basis. equities research analysts anticipate that United Community Banks will post 1.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, December 14th. United Community Banks’s dividend payout ratio (DPR) is presently 27.03%.
A number of large investors have recently modified their holdings of UCBI. Zions Bancorporation bought a new stake in United Community Banks in the third quarter worth $115,000. Riverhead Capital Management LLC boosted its holdings in United Community Banks by 134.3% in the second quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,090 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in United Community Banks in the third quarter worth $200,000. Magnetar Financial LLC bought a new stake in United Community Banks in the third quarter worth $201,000. Finally, Palouse Capital Management Inc. bought a new stake in United Community Banks in the third quarter worth $207,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.
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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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