Piper Sandler Cuts United Community Banks (NASDAQ:UCBI) Price Target to $28.00

United Community Banks (NASDAQ:UCBI) had its price target lowered by Piper Sandler from $30.00 to $28.00 in a research note released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on UCBI. StockNews.com raised shares of United Community Banks to a sell rating in a research report on Wednesday, January 17th. TheStreet downgraded United Community Banks from a b rating to a c+ rating in a report on Wednesday, January 24th. Truist Financial reduced their price objective on United Community Banks from $31.00 to $28.00 and set a hold rating on the stock in a research note on Monday, April 1st. Finally, DA Davidson reaffirmed a buy rating on shares of United Community Banks in a research report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $30.60.

United Community Banks Trading Up 0.6 %

UCBI stock opened at $25.98 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 16.87 and a beta of 0.94. The business has a fifty day simple moving average of $25.57 and a 200-day simple moving average of $26.22. United Community Banks has a 52 week low of $20.37 and a 52 week high of $30.75.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 EPS 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 analyst estimates of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts expect that United Community Banks will post 2.11 EPS for the current year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.54%. United Community Banks’s dividend payout ratio is currently 59.74%.

Institutional Trading of United Community Banks

Several large investors have recently modified their holdings of the business. Carmel Capital Partners LLC purchased a new position in United Community Banks in the third quarter valued at about $36,000. GAMMA Investing LLC purchased a new position in shares of United Community Banks during the 4th quarter valued at approximately $72,000. SG Americas Securities LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth approximately $115,000. FinTrust Capital Advisors LLC grew its position in shares of 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 in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in shares of United Community Banks by 111,360.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after buying an additional 5,568 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.