DA Davidson Boosts United Community Banks (NASDAQ:UCBI) Price Target to $35.00

United Community Banks (NASDAQ:UCBI) had its target price increased by analysts at DA Davidson from $32.00 to $35.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 12.61% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of United Community Banks from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Thursday. Truist Financial raised their target price on United Community Banks from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Piper Sandler lowered their price target on shares of United Community Banks from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.50.

United Community Banks Trading Up 3.4 %

NASDAQ:UCBI traded up $1.03 during trading hours on Thursday, hitting $31.08. The company had a trading volume of 253,609 shares, compared to its average volume of 585,054. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50-day moving average price of $25.99 and a 200 day moving average price of $26.31. The company has a market capitalization of $3.70 billion, a PE ratio of 20.16 and a beta of 0.91. United Community Banks has a 52 week low of $21.63 and a 52 week high of $31.31.

United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The business had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $238.95 million. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that United Community Banks will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UCBI. Vanguard Group Inc. boosted its holdings in shares of United Community Banks by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,552,982 shares of the financial services provider’s stock valued at $396,560,000 after buying an additional 274,275 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in United Community Banks by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,553,813 shares of the financial services provider’s stock valued at $133,249,000 after purchasing an additional 556,939 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in United Community Banks by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,777,906 shares of the financial services provider’s stock worth $52,022,000 after purchasing an additional 5,848 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of United Community Banks by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,549,690 shares of the financial services provider’s stock valued at $45,344,000 after buying an additional 67,399 shares during the period. Finally, Norges Bank purchased a new stake in shares of United Community Banks in the fourth quarter worth about $37,723,000. 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.