United Community Banks (UCBI) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of United Community Banks (NASDAQ:UCBI) from a sell rating to a hold rating in a report issued on Tuesday morning.

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. “

UCBI has been the subject of a number of other research reports. BidaskClub downgraded shares of United Community Banks from a hold rating to a sell rating in a report on Friday, December 7th. ValuEngine cut shares of United Community Banks from a hold rating to a sell rating in a research note on Friday, September 28th. Raymond James cut shares of United Community Banks from an outperform rating to a market perform rating in a research note on Monday, January 7th. FIG Partners restated an outperform rating on shares of United Community Banks in a research note on Thursday, September 20th. Finally, Stephens restated a hold rating and set a $24.00 price objective on shares of United Community Banks in a research note on Thursday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $27.75.

Shares of UCBI stock traded up $0.22 during mid-day trading on Tuesday, reaching $24.72. 7,447 shares of the company were exchanged, compared to its average volume of 542,602. United Community Banks has a fifty-two week low of $20.23 and a fifty-two week high of $34.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.92 billion, a P/E ratio of 15.03 and a beta of 1.08.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $134.50 million during the quarter, compared to the consensus estimate of $136.53 million. United Community Banks had a net margin of 19.16% and a return on equity of 11.64%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, research analysts predict that United Community Banks will post 2.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Saturday, December 15th were given a $0.16 dividend. The ex-dividend date was Thursday, December 13th. This is a boost from United Community Banks’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.59%. United Community Banks’s payout ratio is 39.26%.

In other United Community Banks news, insider Bill M. Gilbert sold 2,237 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $23.54, for a total value of $52,658.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.77% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in United Community Banks by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,523,220 shares of the financial services provider’s stock worth $209,823,000 after purchasing an additional 177,250 shares in the last quarter. Vanguard Group Inc grew its stake in United Community Banks by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 7,523,220 shares of the financial services provider’s stock valued at $209,823,000 after acquiring an additional 177,250 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in United Community Banks by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,007,826 shares of the financial services provider’s stock valued at $83,889,000 after acquiring an additional 22,088 shares in the last quarter. Schroder Investment Management Group grew its stake in United Community Banks by 4.6% during the 2nd quarter. Schroder Investment Management Group now owns 2,506,627 shares of the financial services provider’s stock valued at $78,157,000 after acquiring an additional 110,843 shares in the last quarter. Finally, FMR LLC grew its stake in United Community Banks by 27.9% during the 2nd quarter. FMR LLC now owns 2,258,564 shares of the financial services provider’s stock valued at $69,271,000 after acquiring an additional 492,017 shares in the last quarter. Hedge funds and other institutional investors own 87.13% 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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