Shares of United Community Banks, Inc. (NASDAQ:UCBI) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $30.50.
Several research firms recently commented on UCBI. Keefe, Bruyette & Woods cut United Community Banks from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Sunday, February 24th. BidaskClub cut United Community Banks from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. ValuEngine upgraded United Community Banks from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, SunTrust Banks boosted their price target on United Community Banks to $29.00 and gave the stock a “hold” rating in a research note on Friday, January 25th.
Shares of UCBI traded down $0.40 during midday trading on Friday, reaching $26.41. 432,805 shares of the company were exchanged, compared to its average volume of 521,191. The stock has a market cap of $2.09 billion, a PE ratio of 12.34 and a beta of 1.22. United Community Banks has a 1-year low of $20.23 and a 1-year high of $34.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.81.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks’s dividend payout ratio (DPR) is 29.91%.
In other United Community Banks news, EVP Bradley J. Miller sold 8,627 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $29.16, for a total transaction of $251,563.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bill M. Gilbert sold 2,963 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $26.03, for a total value of $77,126.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,836 shares of company stock worth $439,808. Insiders own 1.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in UCBI. Norges Bank acquired a new stake in United Community Banks during the fourth quarter valued at approximately $16,187,000. Oregon Public Employees Retirement Fund bought a new position in shares of United Community Banks during the fourth quarter valued at approximately $30,000. Millennium Management LLC grew its holdings in shares of United Community Banks by 107.0% during the fourth quarter. Millennium Management LLC now owns 1,037,312 shares of the financial services provider’s stock valued at $22,261,000 after purchasing an additional 536,075 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of United Community Banks by 13.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock valued at $73,107,000 after purchasing an additional 398,806 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new position in shares of United Community Banks during the first quarter valued at approximately $6,134,000. Hedge funds and other institutional investors own 89.40% of the company’s stock.
United Community Banks Company Profile
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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