United Community Banks (NASDAQ:UCB) Stock Price Down 0.3% – Here’s What Happened

United Community Banks, Inc. (NASDAQ:UCB) traded down 0.3% on Friday . The stock traded as low as $32.82 and last traded at $33.21. 463,501 shares were traded during trading, a decline of 20% from the average session volume of 579,644 shares. The stock had previously closed at $33.30.

Analysts Set New Price Targets

Several analysts have recently commented on UCB shares. Truist Financial reduced their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Piper Sandler cut their price target on United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

United Community Banks Price Performance

The firm has a market cap of $3.96 billion, a PE ratio of 15.10 and a beta of 0.92. The stock has a fifty day simple moving average of $31.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78.

United Community Banks (NASDAQ:UCB) last posted its earnings results on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $384.39 million during the quarter, compared to analyst estimates of $237.90 million. United Community Banks had a return on equity of 8.36% and a net margin of 13.04%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, analysts forecast that United Community Banks, Inc. will post 2.23 earnings per share for the current year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, December 16th. United Community Banks’s dividend payout ratio (DPR) is presently 62.34%.

Insider Activity

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.76, for a total value of $285,234.00. Following the transaction, the chief financial officer now directly owns 43,991 shares of the company’s stock, valued at approximately $1,221,190.16. The trade was a 18.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

United Community Banks Company Profile

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.