United Community Banks, Inc. (NASDAQ:UCBI) – Analysts at FIG Partners upped their Q3 2017 earnings estimates for shares of United Community Banks in a research note issued to investors on Wednesday. FIG Partners analyst C. Marinac now forecasts that the financial services provider will earn $0.41 per share for the quarter, up from their prior estimate of $0.40. FIG Partners has a “Outperform” rating and a $32.00 price target on the stock.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The business had revenue of $108 million during the quarter, compared to the consensus estimate of $110.49 million. During the same period last year, the business posted $0.36 EPS. United Community Banks’s revenue was up 9.4% on a year-over-year basis.
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UCBI has been the topic of a number of other reports. Zacks Investment Research cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. dropped their target price on shares of United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 27th. Stephens reiterated a “hold” rating and issued a $29.00 target price on shares of United Community Banks in a research note on Wednesday, July 26th. BidaskClub cut shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, ValuEngine upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.86.
United Community Banks (NASDAQ:UCBI) opened at 25.75 on Thursday. The firm has a 50-day moving average of $27.69 and a 200 day moving average of $27.61. United Community Banks has a 12-month low of $19.63 and a 12-month high of $30.47. The company has a market capitalization of $1.83 billion, a PE ratio of 17.64 and a beta of 0.88.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, September 14th. United Community Banks’s payout ratio is presently 24.66%.
In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the transaction, the executive vice president now directly owns 16,858 shares in the company, valued at $439,319.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.18% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCBI. Bank of America Corp DE boosted its position in United Community Banks by 17.1% in the first quarter. Bank of America Corp DE now owns 750,629 shares of the financial services provider’s stock worth $20,785,000 after buying an additional 109,732 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of United Community Banks by 3.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 473,440 shares of the financial services provider’s stock worth $13,110,000 after buying an additional 15,513 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of United Community Banks by 17.9% in the first quarter. Bank of New York Mellon Corp now owns 2,186,633 shares of the financial services provider’s stock worth $60,547,000 after buying an additional 332,315 shares during the last quarter. Glen Harbor Capital Management LLC acquired a new stake in shares of United Community Banks during the first quarter worth approximately $122,000. Finally, LS Investment Advisors LLC boosted its stake in shares of United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,355 shares during the last quarter. Hedge funds and other institutional investors own 94.06% of the company’s stock.
United Community Banks Company Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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