Piper Sandler Cuts United Community Banks (NASDAQ:UCBI) Price Target to $28.00

United Community Banks (NASDAQ:UCBIGet Free Report) had its price objective cut by equities research analysts at Piper Sandler from $30.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 6.34% from the company’s current price.

UCBI has been the topic of a number of other research reports. Truist Financial lowered their target price on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. TheStreet lowered shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. DA Davidson reissued a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. Finally, StockNews.com raised shares of United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.60.

View Our Latest Stock Report on United Community Banks

United Community Banks Trading Up 0.6 %

Shares of NASDAQ UCBI opened at $26.33 on Thursday. The firm has a market capitalization of $3.14 billion, a PE ratio of 16.99 and a beta of 0.94. United Community Banks has a one year low of $20.37 and a one year high of $30.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $25.63 and a two-hundred day moving average price of $26.22.

United Community Banks (NASDAQ:UCBIGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million for the quarter, compared to analyst estimates of $232.00 million. United Community Banks had a net margin of 14.29% and a return on equity of 8.32%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. As a group, analysts predict that United Community Banks will post 2.15 earnings per share for the current fiscal year.

Institutional Trading of United Community Banks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of United Community Banks by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider’s stock valued at $337,412,000 after purchasing an additional 245,944 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of United Community Banks by 12.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider’s stock valued at $4,362,000 after purchasing an additional 18,622 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of United Community Banks in the 3rd quarter worth about $5,501,000. Sequoia Financial Advisors LLC increased its position in shares of United Community Banks by 12.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in United Community Banks by 21.4% during the 3rd quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider’s stock valued at $48,633,000 after purchasing an additional 337,102 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

About United Community Banks

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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.

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