United Community Banks (NASDAQ:UCBI) Given New $26.00 Price Target at Truist Financial

United Community Banks (NASDAQ:UCBI) had its price objective reduced by Truist Financial from $28.00 to $26.00 in a report issued on Monday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price target on shares of United Community Banks from $30.00 to $28.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $30.20.

United Community Banks Stock Up 2.7 %

UCBI stock opened at $25.65 on Monday. 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 company’s 50 day simple moving average is $25.52 and its 200-day simple moving average is $26.33. United Community Banks has a 12 month low of $21.63 and a 12 month high of $30.75. The firm has a market capitalization of $3.06 billion, a PE ratio of 16.66 and a beta of 0.91.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. United Community Banks’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. Equities analysts expect that United Community Banks will post 2.12 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.59%. United Community Banks’s payout ratio is 59.74%.

Hedge Funds Weigh In On United Community Banks

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at $72,000. SG Americas Securities LLC acquired a new position in United Community Banks in the fourth quarter valued at $115,000. FinTrust Capital Advisors LLC grew its position in United Community Banks by 12.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 4,493 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 500 shares during the period. TFO Wealth Partners LLC increased its stake in United Community Banks by 111,360.0% during the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,568 shares during the last quarter. Finally, Strs Ohio increased its stake in United Community Banks by 17.6% during the fourth quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock worth $175,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

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.