United Community Banks (NASDAQ:UCBI) PT Lowered to $28.00 at Piper Sandler

United Community Banks (NASDAQ:UCBI) had its target price reduced by analysts at Piper Sandler from $30.00 to $28.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 6.34% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Truist Financial decreased their price target on shares of United Community Banks from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 1st. StockNews.com upgraded United Community Banks to a “sell” rating in a research note on Wednesday, January 17th. TheStreet cut United Community Banks from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. Finally, DA Davidson reiterated a “buy” rating on shares of United Community Banks in a research report on Monday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, United Community Banks has an average rating of “Hold” and a consensus target price of $30.60.

United Community Banks Price Performance

Shares of UCBI opened at $26.33 on Thursday. The firm has a fifty day moving average price of $25.63 and a 200 day moving average price of $26.22. The stock has a market cap of $3.14 billion, a PE ratio of 16.99 and a beta of 0.94. United Community Banks has a 1-year low of $20.37 and a 1-year high of $30.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The firm had revenue of $225.80 million for the quarter, compared to the consensus estimate of $232.00 million. During the same quarter last year, the business posted $0.58 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Community Banks will post 2.15 EPS for the current year.

Hedge Funds Weigh In On United Community Banks

A number of large investors have recently made changes to their positions in UCBI. 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 worth $131,000 after buying an additional 500 shares during the period. Family Legacy Inc. boosted its position in United Community Banks by 1.6% during the fourth quarter. Family Legacy Inc. now owns 33,543 shares of the financial services provider’s stock worth $981,000 after purchasing an additional 516 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in United Community Banks by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,218 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 583 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of United Community Banks by 9.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 8,359 shares of the financial services provider’s stock valued at $220,000 after buying an additional 704 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its stake in shares of United Community Banks by 9.3% during the 1st quarter. AlphaMark Advisors LLC now owns 10,406 shares of the financial services provider’s stock worth $274,000 after buying an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

United Community Banks 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.