United Community Banks (NASDAQ:UCBI – Get Free Report) had its target price decreased by equities researchers at Truist Financial from $28.00 to $26.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 4.08% from the stock’s previous close.
Separately, Piper Sandler cut their price objective on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. One equities research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.20.
Get Our Latest Stock Report on United Community Banks
United Community Banks Trading Up 1.7 %
United Community Banks (NASDAQ:UCBI – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The company had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $232.00 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. United Community Banks’s quarterly revenue was down 6.6% on a year-over-year basis. Sell-side analysts expect that United Community Banks will post 2.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in United Community Banks in the 4th quarter worth about $72,000. SG Americas Securities LLC purchased a new position in United Community Banks in the 4th quarter worth about $115,000. FinTrust Capital Advisors LLC increased its stake in United Community Banks by 12.5% in the 4th 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. TFO Wealth Partners LLC grew its holdings in United Community Banks by 111,360.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,573 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 5,568 shares in the last quarter. Finally, Strs Ohio grew its holdings in United Community Banks by 17.6% during the 4th quarter. Strs Ohio now owns 6,000 shares of the financial services provider’s stock worth $175,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 82.29% 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.
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