United Community Banks (NASDAQ:UCB) Raised to “Outperform” at Raymond James

United Community Banks (NASDAQ:UCB) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $35.00 target price on the stock. Raymond James’ price target would suggest a potential upside of 11.46% from the stock’s current price.

UCB has been the topic of a number of other reports. Truist Financial reduced their target price on shares of United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Piper Sandler decreased their target price on shares of United Community Banks from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, October 25th.

United Community Banks Stock Performance

United Community Banks stock opened at $31.40 on Thursday. United Community Banks has a fifty-two week low of $24.04 and a fifty-two week high of $35.38. The firm’s 50 day moving average price is $31.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $3.75 billion, a PE ratio of 20.39 and a beta of 0.92.

United Community Banks (NASDAQ:UCB) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $384.39 million for the quarter, compared to the consensus estimate of $237.90 million. United Community Banks had a net margin of 13.04% and a return on equity of 8.36%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, analysts predict that United Community Banks will post 2.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jefferson L. Harralson sold 10,275 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.76, for a total transaction of $285,234.00. Following the sale, the chief financial officer now directly owns 43,991 shares of the company’s stock, valued at $1,221,190.16. This trade represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% 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.