United Community Banks (NASDAQ:UCB) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of United Community Banks (NASDAQ:UCB) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat reports. The firm currently has $35.00 price objective on the stock.

UCB has been the topic of a number of other research reports. Piper Sandler dropped their target price on shares of United Community Banks from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price target on shares of United Community Banks from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, October 25th.

United Community Banks Trading Up 1.1 %

UCB traded up $0.34 on Thursday, reaching $31.39. The company had a trading volume of 207,134 shares, compared to its average volume of 583,890. United Community Banks has a one year low of $24.04 and a one year high of $35.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average of $31.53. The stock has a market cap of $3.74 billion, a P/E ratio of 20.38 and a beta of 0.92.

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 the consensus estimate of $0.58 by ($0.01). The firm had revenue of $384.39 million during the quarter, compared to analysts’ expectations of $237.90 million. United Community Banks had a return on equity of 8.36% and a net margin of 13.04%. During the same period last year, the business earned $0.45 earnings per share. Research analysts predict that United Community Banks will post 2.23 EPS for the current year.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.96 annualized dividend and a yield of 3.06%. United Community Banks’s dividend payout ratio (DPR) is 62.34%.

Insider Buying and Selling

In other United Community Banks news, CFO Jefferson L. Harralson sold 10,275 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.76, for a total transaction of $285,234.00. Following the transaction, the chief financial officer now directly owns 43,991 shares in the company, valued at approximately $1,221,190.16. This represents a 18.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

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.