Keefe, Bruyette & Woods Raises United Community Banks (NASDAQ:UCBI) Price Target to $32.00

United Community Banks (NASDAQ:UCBI) had its price target increased by Keefe, Bruyette & Woods from $28.00 to $32.00 in a research report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler decreased their price target on shares of United Community Banks from $30.00 to $28.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Truist Financial decreased their price target on shares of United Community Banks from $28.00 to $26.00 and set a hold rating for the company in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $31.50.

United Community Banks Stock Up 1.1 %

Shares of NASDAQ UCBI opened at $31.51 on Thursday. United Community Banks has a 52-week low of $21.63 and a 52-week high of $31.96. The firm has a fifty day moving average of $26.17 and a 200-day moving average of $26.33. The stock has a market capitalization of $3.75 billion, a PE ratio of 20.46 and a beta of 0.91. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07. United Community Banks had a net margin of 13.36% and a return on equity of 8.04%. The company had revenue of $347.00 million during the quarter, compared to analysts’ expectations of $238.95 million. During the same period in the previous year, the company earned $0.55 EPS. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts anticipate that United Community Banks will post 2.16 EPS for the current year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 2.92%. United Community Banks’s payout ratio is currently 59.74%.

Hedge Funds Weigh In On United Community Banks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in United Community Banks by 438.3% in the 1st quarter. SG Americas Securities LLC now owns 21,135 shares of the financial services provider’s stock valued at $556,000 after buying an additional 17,209 shares during the last quarter. Quantbot Technologies LP purchased a new position in United Community Banks in the 1st quarter valued at about $703,000. Rafferty Asset Management LLC boosted its position in United Community Banks by 85.2% in the 4th quarter. Rafferty Asset Management LLC now owns 157,743 shares of the financial services provider’s stock valued at $4,616,000 after buying an additional 72,582 shares during the last quarter. CIBC Asset Management Inc purchased a new position in United Community Banks in the 4th quarter valued at about $346,000. Finally, Private Advisor Group LLC purchased a new position in United Community Banks in the 4th quarter valued at about $203,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

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.