United Community Banks (NASDAQ:UCBI) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of United Community Banks (NASDAQ:UCBI) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

UCBI has been the subject of several other reports. ValuEngine upgraded shares of USINAS SIDERURG/S from a sell rating to a hold rating in a research note on Wednesday, May 29th. Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. United Community Banks currently has an average rating of Hold and an average target price of $30.17.

Shares of UCBI stock opened at $28.41 on Tuesday. United Community Banks has a one year low of $20.23 and a one year high of $31.71. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $27.64. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.72 and a beta of 1.24.

United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. United Community Banks had a net margin of 27.98% and a return on equity of 12.33%. The company had revenue of $133.30 million during the quarter, compared to the consensus estimate of $137.03 million. During the same period in the previous year, the firm earned $0.50 earnings per share. United Community Banks’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that United Community Banks will post 2.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. This is an increase from United Community Banks’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 13th. United Community Banks’s dividend payout ratio is 31.78%.

A number of hedge funds and other institutional investors have recently bought and sold shares of UCBI. FMR LLC raised its holdings in shares of United Community Banks by 66.4% during the first quarter. FMR LLC now owns 2,821,182 shares of the financial services provider’s stock worth $70,332,000 after purchasing an additional 1,125,516 shares during the period. Norges Bank acquired a new stake in shares of United Community Banks in the 4th quarter worth about $16,187,000. Janus Henderson Group PLC increased its holdings in shares of United Community Banks by 76.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,664,673 shares of the financial services provider’s stock worth $41,500,000 after acquiring an additional 718,910 shares during the period. Millennium Management LLC increased its holdings in shares of United Community Banks by 107.0% in the 4th quarter. Millennium Management LLC now owns 1,037,312 shares of the financial services provider’s stock worth $22,261,000 after acquiring an additional 536,075 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of United Community Banks by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock worth $73,107,000 after acquiring an additional 398,806 shares during the period. Hedge funds and other institutional investors own 89.50% of the company’s stock.

United Community Banks Company Profile

United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.

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