Brokerages Set United Community Banks, Inc. (NYSE:UCB) Price Target at $38.00

United Community Banks, Inc. (NYSE:UCB) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.00.

Several analysts have issued reports on UCB shares. DA Davidson upped their price target on shares of United Community Banks from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $40.00 in a report on Thursday, April 9th. Zacks Research downgraded shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Stephens boosted their price objective on shares of United Community Banks from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Finally, Hovde Group lowered shares of United Community Banks from an “outperform” rating to a “market perform” rating and set a $38.00 price objective for the company. in a research report on Monday, February 9th.

Insider Buying and Selling at United Community Banks

In other news, CAO Alan H. Kumler sold 12,043 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $35.36, for a total value of $425,840.48. Following the completion of the transaction, the chief accounting officer owned 21,096 shares of the company’s stock, valued at $745,954.56. The trade was a 36.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Community Banks

Institutional investors have recently modified their holdings of the company. First Horizon Corp acquired a new position in shares of United Community Banks in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in United Community Banks during the fourth quarter worth approximately $29,000. Covestor Ltd increased its position in United Community Banks by 196.1% during the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock worth $31,000 after purchasing an additional 657 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in United Community Banks during the third quarter worth approximately $37,000. Finally, Torren Management LLC acquired a new position in United Community Banks during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Down 1.0%

Shares of NYSE UCB opened at $33.82 on Wednesday. United Community Banks has a 12-month low of $23.77 and a 12-month high of $36.77. The company has a market capitalization of $4.05 billion, a PE ratio of 12.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $32.68 and its two-hundred day moving average is $31.98.

United Community Banks (NYSE:UCB) last announced its quarterly earnings results on Wednesday, January 14th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). United Community Banks had a net margin of 21.35% and a return on equity of 9.49%. During the same quarter in the previous year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, March 13th. United Community Banks’s payout ratio is currently 38.31%.

About United Community Banks

United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.