United Community Banks (NASDAQ:UCB) Rating Increased to Outperform at Raymond James

United Community Banks (NASDAQ:UCB) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $35.00 target price on the stock. Raymond James’ price target indicates a potential upside of 10.76% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler lowered their target price on 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. Truist Financial cut 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 note on Friday, October 25th.

United Community Banks Stock Performance

Shares of UCB stock opened at $31.60 on Thursday. United Community Banks has a fifty-two week low of $24.04 and a fifty-two week high of $35.38. The company has a 50 day simple moving average of $31.59. The firm has a market capitalization of $3.77 billion, a PE ratio of 20.52 and a beta of 0.92. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

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

Insider Activity

In other United Community Banks news, CFO Jefferson L. Harralson sold 10,275 shares of the firm’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 transaction, the chief financial officer now owns 43,991 shares of the company’s stock, valued at approximately $1,221,190.16. This trade represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

United Community Banks Company Profile

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.