United Community Banks (NASDAQ:UCB) Given New $35.00 Price Target at Piper Sandler

United Community Banks (NASDAQ:UCB) had its price target upped by Piper Sandler from $32.00 to $35.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the company. Truist Financial decreased their target price on United Community Banks from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Raymond James raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Thursday, December 19th.

United Community Banks Stock Performance

UCB opened at $32.89 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 is $32.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 14.33 and a beta of 0.93.

United Community Banks (NASDAQ:UCB) last released its earnings results on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company 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 16.48% and a return on equity of 8.64%. During the same period in the prior year, the company earned $0.45 earnings per share. Equities research analysts predict that United Community Banks will post 2.3 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 16th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.92%. United Community Banks’s dividend payout ratio is 47.06%.

Insiders Place Their Bets

In other news, CFO Jefferson L. Harralson sold 10,275 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,221,190.16. This represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company 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.