Piper Sandler Forecasts Strong Price Appreciation for United Community Banks (NASDAQ:UCB) Stock

United Community Banks (NASDAQ:UCB) had its price objective lifted by analysts at Piper Sandler from $32.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 6.22% from the company’s current price.

UCB has been the topic of a number of other research reports. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Thursday, December 19th. Truist Financial reduced their price objective on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, October 25th.

United Community Banks Price Performance

Shares of UCB traded up $0.00 during midday trading on Thursday, reaching $32.95. The stock had a trading volume of 126,154 shares, compared to its average volume of 613,962. United Community Banks has a 52 week low of $24.04 and a 52 week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $32.65. The firm has a market cap of $3.93 billion, a P/E ratio of 21.45 and a beta of 0.93.

United Community Banks (NASDAQ:UCB) last issued its earnings results on Wednesday, October 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company 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 previous year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that United Community Banks will post 2.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.76, for a total transaction of $285,234.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% 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.