Hovde Group Has Lowered Expectations for United Community Banks (NASDAQ:UCB) Stock Price

United Community Banks (NASDAQ:UCB) had its price target cut by equities research analysts at Hovde Group from $36.00 to $32.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the stock. Hovde Group’s price objective indicates a potential upside of 14.51% from the company’s current price.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their price target on United Community Banks from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Raymond James upgraded United Community Banks from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Thursday, December 19th.

United Community Banks Stock Performance

NASDAQ:UCB opened at $27.94 on Thursday. The firm has a 50-day moving average of $31.68 and a two-hundred day moving average of $31.07. 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 stock has a market cap of $3.34 billion, a P/E ratio of 13.70 and a beta of 0.90. United Community Banks has a 1-year low of $26.00 and a 1-year high of $35.38.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, CEO H Lynn Harton sold 31,679 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $33.84, for a total value of $1,072,017.36. Following the sale, the chief executive officer now directly owns 112,444 shares in the company, valued at approximately $3,805,104.96. This trade represents a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard Bradshaw sold 1,527 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $32.72, for a total transaction of $49,963.44. Following the transaction, the executive vice president now directly owns 67,876 shares of the company’s stock, valued at approximately $2,220,902.72. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UCB. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks in the fourth quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new position in shares of United Community Banks in the fourth quarter valued at approximately $42,000. Quadrant Capital Group LLC acquired a new position in shares of United Community Banks during the fourth quarter valued at approximately $45,000. Tower Research Capital LLC TRC bought a new stake in United Community Banks during the fourth quarter worth approximately $59,000. Finally, Farther Finance Advisors LLC acquired a new stake in United Community Banks in the fourth quarter worth approximately $80,000. Institutional investors own 82.29% 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.