FIG Partners upgraded shares of United Community Banks, Inc. (NASDAQ:UCBI) from a market perform rating to an outperform rating in a report published on Wednesday, MarketBeat.com reports. The brokerage currently has $32.00 price target on the financial services provider’s stock. FIG Partners also issued estimates for United Community Banks’ Q3 2017 earnings at $0.41 EPS and FY2017 earnings at $1.63 EPS.
UCBI has been the topic of a number of other research reports. ValuEngine upgraded United Community Banks from a hold rating to a buy rating in a report on Friday, June 2nd. BidaskClub cut United Community Banks from a buy rating to a hold rating in a report on Thursday, July 13th. UBS AG upgraded United Community Banks from a market perform rating to an outperform rating in a report on Wednesday, May 3rd. Raymond James Financial, Inc. reduced their target price 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. Finally, Stephens restated a hold rating and set a $30.00 target price on shares of United Community Banks in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $30.86.
Shares of United Community Banks (NASDAQ:UCBI) opened at 25.83 on Wednesday. United Community Banks has a one year low of $19.75 and a one year high of $30.47. The firm has a market capitalization of $1.83 billion, a P/E ratio of 17.69 and a beta of 0.88. The firm has a 50-day moving average of $27.63 and a 200-day moving average of $27.59.
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 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. On average, equities analysts predict that United Community Banks will post $1.64 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. United Community Banks’s dividend payout ratio (DPR) is 24.66%.
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.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in United Community Banks by 17.1% in the first quarter. Bank of America Corp DE now owns 750,629 shares of the financial services provider’s stock valued at $20,785,000 after buying an additional 109,732 shares during the period. Schwab Charles Investment Management Inc. boosted its position in United Community Banks by 3.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 473,440 shares of the financial services provider’s stock valued at $13,110,000 after buying an additional 15,513 shares during the period. Bank of New York Mellon Corp boosted its position in United Community Banks by 17.9% in the first quarter. Bank of New York Mellon Corp now owns 2,186,633 shares of the financial services provider’s stock valued at $60,547,000 after buying an additional 332,315 shares during the period. Glen Harbor Capital Management LLC acquired a new position in United Community Banks during the first quarter valued at $122,000. Finally, Oxford Asset Management acquired a new position in United Community Banks during the first quarter valued at $374,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
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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