Hovde Group Issues Pessimistic Forecast for United Community Banks (NASDAQ:UCB) Stock Price

United Community Banks (NASDAQ:UCB) had its price objective lowered by stock analysts at Hovde Group from $36.00 to $32.00 in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm presently has a “market perform” rating on the stock. Hovde Group’s price objective suggests a potential upside of 10.46% from the stock’s previous close.

UCB has been the topic of a number of other research reports. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, December 19th. Piper Sandler boosted their price target on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd.

United Community Banks Price Performance

Shares of UCB opened at $28.97 on Thursday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 14.20 and a beta of 0.90. United Community Banks has a fifty-two week low of $26.00 and a fifty-two week high of $35.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50-day moving average is $31.78 and its 200-day moving average is $31.10.

Insiders Place Their Bets

In other news, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $28.19 per share, for a total transaction of $50,742.00. Following the completion of the acquisition, the director now directly owns 3,264 shares of the company’s stock, valued at approximately $92,012.16. The trade was a 122.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Bradshaw sold 1,527 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the sale, the executive vice president now owns 67,876 shares of the company’s stock, valued at $2,220,902.72. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On United Community Banks

A number of hedge funds have recently bought and sold shares of UCB. Vanguard Group Inc. bought a new stake in United Community Banks during the fourth quarter valued at about $450,141,000. FMR LLC bought a new stake in United Community Banks during the fourth quarter valued at about $310,166,000. Dimensional Fund Advisors LP bought a new stake in United Community Banks during the fourth quarter valued at about $195,766,000. Capital Research Global Investors bought a new stake in shares of United Community Banks in the fourth quarter valued at about $148,763,000. Finally, Earnest Partners LLC bought a new stake in shares of United Community Banks in the fourth quarter valued at about $113,536,000. 82.29% of the stock is currently owned by institutional investors.

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.