In yesterday’s Wall Street session, United Community Banks Inc. (NASDAQ:UCBI) shares traded at $32.02, down -8.09% from the previous session.
As of this writing, 7 analysts cover United Community Banks Inc. (NASDAQ:UCBI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $37.00, we find $40.00. Given the previous closing price of $34.84, this indicates a potential upside of 14.81 percent. UCBI stock price is now -10.68% away from the 50-day moving average and -4.39% away from the 200-day moving average. The market capitalization of the company currently stands at $3.65B.
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There are 3 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $39.83 as their price target over the next twelve months.
On October 22, 2020, Raymond James Upgraded its previous ‘Mkt Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $23, while ‘Stephens’ rates the stock as ‘Overweight’.
In other news, BRADSHAW RICHARD, EVP, CHIEF BANKING OFFICER sold 649 shares of the company’s stock on Nov 01. The stock was sold for $24,999 at an average price of $38.52. Upon completion of the transaction, the EVP, CHIEF BANKING OFFICER now directly owns 69,514 shares in the company, valued at $2.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, Director DANIELS KENNETH L bought 500 shares of the business’s stock. A total of $14,100 was incurred on buying the stock at an average price of $28.20. This leaves the insider owning 13,299 shares of the company worth $0.43 million. Insiders disposed of 37,753 shares of company stock worth roughly $1.21 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in UCBI stock. A new stake in United Community Banks Inc. shares was purchased by NEUBERGER BERMAN GROUP LLC during the first quarter worth $10,770,000. MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. invested $9,342,000 in shares of UCBI during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in United Community Banks Inc. valued at approximately $3,985,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in UCBI for approximately $1,506,000. MARYLAND STATE RETIREMENT & PENSION SYSTEM purchased a new stake in UCBI valued at around $1,404,000 in the second quarter. In total, there are 352 active investors with 87.70% ownership of the company’s stock.
Wednesday morning saw United Community Banks Inc. (NASDAQ: UCBI) opened at $35.22. During the past 12 months, United Community Banks Inc. has had a low of $27.85 and a high of $39.50. The fifty day moving average price for UCBI is $35.85 and a two-hundred day moving average price translates $33.49 for the stock.
The latest earnings results from United Community Banks Inc. (NASDAQ: UCBI) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $0.75, inline with analysts’ expectations of $0.75. This compares to $0.82 EPS in the same period last year. The net profit margin was 32.90% and return on equity was 9.60% for UCBI. The company reported revenue of $213.89 million for the quarter, compared to $147.68 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 44.84 percent. For the current quarter, analysts expect UCBI to generate $239.58M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/05/2023. Investors who held shares on 12/15/2022 were paid a $0.22 dividend. On an annualized basis, this represents a $0.88 dividend and a 2.75% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend. In terms of dividend payout ratio, UCBI is presently at 38.40%.
United Community Banks Inc.(UCBI) 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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts. It also offers lending services, including real estate, consumer, and commercial loans, to individuals, small businesses, mid-sized commercial businesses, and non-profit organizations, as well as secured and unsecured, and mortgage loans. In addition, the company originate loans partially guaranteed by the SBA and USDA loan programs. Further, it provides wealth management services comprising financial planning, customized portfolio management, and investment advice; trust services to manage fiduciary assets; non-deposit investment products; and insurance products, including life insurance, long-term care insurance, and tax-deferred annuities, as well as invests in residential and commercial mortgage-backed securities, asset-backed securities, the U.S. treasury, the U.S. agency, and municipal obligations. Additionally, the company offers reinsurance on a property insurance contract; insurance agency services; brokerage services; and payment processing, merchant, wire transfer, private banking, and other related financial services. It operates through a network of 171 branches in Florida, Georgia, North Carolina, South Carolina, and Tennessee. United Community Banks, Inc. was founded in 1950 and is headquartered in Blairsville, Georgia.
