The stock of United Community Banks Inc. (NASDAQ:UCBI) last traded at $27.59, up 2.19% from the previous session.
Data from the available sources indicates that United Community Banks Inc. (NASDAQ:UCBI) is covered by 8 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $33.00 and a low of $30.00, we find $30.50. Given the previous closing price of $27.00, this indicates a potential upside of 12.96 percent. UCBI stock price is now 0.89% away from the 50-day moving average and -6.10% away from the 200-day moving average. The market capitalization of the company currently stands at $3.21B.
In total, 5 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $30.86 as their price target over the next twelve months.
With the price target reduced from $33 to $30, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for United Community Banks Inc. (NASDAQ: UCBI).
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 $1.92 million. Insiders disposed of 43,455 shares of company stock worth roughly $1.2 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 GMT CAPITAL CORP during the first quarter worth $2,891,000. CITADEL ADVISORS LLC invested $733,000 in shares of UCBI during the first quarter. In the first quarter, ONEASCENT WEALTH MANAGEMENT LLC acquired a new stake in United Community Banks Inc. valued at approximately $574,000. AIGEN INVESTMENT MANAGEMENT, LP acquired a new stake in UCBI for approximately $484,000. VERITION FUND MANAGEMENT LLC purchased a new stake in UCBI valued at around $294,000 in the second quarter. In total, there are 346 active investors with 87.70% ownership of the company’s stock.
With an opening price of $27.12 on Friday morning, United Community Banks Inc. (NASDAQ: UCBI) set off the trading day. During the past 12 months, United Community Banks Inc. has had a low of $20.37 and a high of $39.50. The fifty day moving average price for UCBI is $27.40 and a two-hundred day moving average price translates $29.33 for the stock.
The latest earnings results from United Community Banks Inc. (NASDAQ: UCBI) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $0.55, missing analysts’ expectations of $0.61 by -0.06. This compares to $0.61 EPS in the same period last year. The net profit margin was 27.20% and return on equity was 10.10% for UCBI. The company reported revenue of $295.77 million for the quarter, compared to $187.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.85 percent. For the current quarter, analysts expect UCBI to generate $242.08M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/05/2023. Investors who held shares on 09/15/2023 were paid a $0.23 dividend. On an annualized basis, this represents a $0.92 dividend and a 3.33% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, UCBI is presently at 35.50%.
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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts. The company 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, it originates loans partially guaranteed by the SBA and USDA loan programs. Further, the company 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, it 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. The company was founded in 1950 and is headquartered in Blairsville, Georgia.
