United Community Banks (NASDAQ:UCBI) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of United Community Banks (NASDAQ:UCBI) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “United Community Bank 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. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services. The Company operates through its subsidiary, United Community Bank, Blairsville, Georgia (the Bank). The Bank owns an insurance agency, United Community Insurance Services, Inc., known as United Community Advisory Services, which is a subsidiary of the Bank. “

UCBI has been the subject of several other research reports. ValuEngine raised United Community Banks from a sell rating to a hold rating in a report on Wednesday, May 29th. BidaskClub downgraded United Community Banks from a buy rating to a hold rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $29.40.

Shares of NASDAQ UCBI traded down $0.10 during trading hours on Tuesday, hitting $27.17. The company had a trading volume of 14,218 shares, compared to its average volume of 333,630. The stock has a market capitalization of $2.27 billion, a PE ratio of 12.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.84. United Community Banks has a 1-year low of $20.23 and a 1-year high of $31.71. The firm’s 50 day moving average price is $28.10.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. The company had revenue of $142.32 million during the quarter, compared to the consensus estimate of $142.30 million. United Community Banks had a return on equity of 12.24% and a net margin of 27.88%. During the same quarter in the prior year, the firm posted $0.53 EPS. Equities research analysts expect that United Community Banks will post 2.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, June 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s dividend payout ratio is presently 31.78%.

A number of institutional investors have recently made changes to their positions in UCBI. FMR LLC lifted its holdings in United Community Banks by 66.4% during the 1st quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock valued at $70,332,000 after purchasing an additional 1,125,516 shares during the last quarter. Norges Bank acquired a new stake in United Community Banks during the 4th quarter valued at $16,187,000. Janus Henderson Group PLC lifted its holdings in United Community Banks by 76.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,664,673 shares of the financial services provider’s stock valued at $41,500,000 after purchasing an additional 718,910 shares during the last quarter. Millennium Management LLC lifted its holdings in United Community Banks by 107.0% during the 4th 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. Finally, Dimensional Fund Advisors LP lifted its holdings in United Community Banks by 13.3% during the 4th 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. 89.74% of the stock is owned by institutional investors and hedge funds.

About United Community Banks

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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