United Community Banks (NASDAQ:UCBI) Price Target Lowered to $28.00 at Piper Sandler

United Community Banks (NASDAQ:UCBI) had its price target lowered by Piper Sandler from $30.00 to $28.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on UCBI. TheStreet cut shares of United Community Banks from a b rating to a c+ rating in a research report on Wednesday, January 24th. Truist Financial dropped their price target on shares of United Community Banks from $31.00 to $28.00 and set a hold rating on the stock in a research note on Monday, April 1st. DA Davidson restated a buy rating on shares of United Community Banks in a research report on Monday, January 15th. Finally, StockNews.com upgraded shares of United Community Banks to a sell rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, United Community Banks has a consensus rating of Hold and an average price target of $30.60.

United Community Banks Trading Up 1.0 %

Shares of United Community Banks stock traded up $0.25 during mid-day trading on Thursday, hitting $26.07. The stock had a trading volume of 87,567 shares, compared to its average volume of 638,697. The firm has a 50-day moving average of $25.59 and a two-hundred day moving average of $26.22. United Community Banks has a 12-month low of $20.37 and a 12-month high of $30.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.10 billion, a P/E ratio of 16.77 and a beta of 0.94.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts forecast that United Community Banks will post 2.15 earnings per share for the current year.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, March 14th. United Community Banks’s payout ratio is 59.74%.

Institutional Investors Weigh In On United Community Banks

Several large investors have recently made changes to their positions in the business. Carmel Capital Partners LLC acquired a new stake in United Community Banks during the 3rd quarter valued at $36,000. GAMMA Investing LLC acquired a new position in United Community Banks during the 4th quarter worth $72,000. SG Americas Securities LLC acquired a new position in United Community Banks during the 4th quarter worth $115,000. FinTrust Capital Advisors LLC grew its holdings in United Community Banks by 12.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 500 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,568 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

About United Community Banks

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.