United Community Banks (NASDAQ:UCBI) Given New $28.00 Price Target at Piper Sandler

United Community Banks (NASDAQ:UCBI) had its target price cut by Piper Sandler from $30.00 to $28.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of United Community Banks to a sell rating in a research report on Wednesday, January 17th. DA Davidson reissued a buy rating on shares of United Community Banks in a research note on Monday, January 15th. Truist Financial reduced their price objective on shares of 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. Finally, TheStreet downgraded shares of United Community Banks from a b rating to a c+ rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $30.60.

United Community Banks Price Performance

Shares of UCBI opened at $25.98 on Thursday. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75. The stock has a market cap of $3.09 billion, a PE ratio of 16.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $25.57 and a 200 day moving average price of $26.22.

United Community Banks (NASDAQ:UCBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The business had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $232.00 million. During the same period in the prior year, the company earned $0.58 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Community Banks will post 2.09 EPS for the current year.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, March 14th. United Community Banks’s dividend payout ratio is presently 59.74%.

Institutional Investors Weigh In On United Community Banks

A number of large investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its holdings in United Community Banks by 12.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 500 shares in the last quarter. Family Legacy Inc. grew its holdings in United Community Banks by 1.6% during the 4th quarter. Family Legacy Inc. now owns 33,543 shares of the financial services provider’s stock worth $981,000 after acquiring an additional 516 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in United Community Banks by 2.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 24,218 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 583 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in United Community Banks by 9.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,359 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 704 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in United Community Banks by 9.3% during the 1st quarter. AlphaMark Advisors LLC now owns 10,406 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 882 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

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.