United Comm Banks (NASDAQ:UCBI) Rating Upped

New York-listed United Comm Banks (NASDAQ:UCBI), was upgraded by stock analysts at Hovde Group. Hovde Group upgraded its rating on the $1.95B market cap company to “Outperform” from a previous “Market Perform”, but maintained its target price of $31.0 on UCBI shares.

Institutional Ownership

Elizabeth Park Capital Advisors Ltd. had the most significant stake with ownership of 333,800 shares as of q2 2015 for 3.08% of the stock exposure. Maltese Capital Management Llc is another very bullish investment manager who is having 629,400 shares of United Comm Banks or 1.6% of their stock exposure. Moreover, Phocas Financial Corp. have 1.1% of their stock exposure invested in the company for 746,956 shares. The Colorado-based fund Denver Investment Advisors Llc disclosed it had acquired a stake worth about 1% of the investment manager’s stock portfolio in United Comm Banks. The Missouri-based fund Piermont Capital Management Inc. is also positive about the stock, possessing 1.08 million shares or 0.74% of their stock exposure.

United Comm Banks (NASDAQ:UCBI) Profile

United Community Banks, Inc. (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee. The community banks offer a range of retail and corporate banking services, including checking, savings and time deposit accounts, secured and unsecured loans, wire transfers, brokerage services and other financial services.

United Comm Banks (NASDAQ:UCBI) traded down -2.06% on 3 May, hitting $27.12. A total of shares of the company’s stock traded hands. This is down from average of 384,565 shares. United Comm Banks has a 52 week low of $17.07 and a 52 week high of $30.47. The company has a market cap of $1.95 billion and a P/E ratio of 19.11.

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The post Analysts at Hovde Group Improved United Comm Banks (NASDAQ:UCBI) Rating from “Market Perform” to “Outperform”. The Stock Has 14.31 % Upside Potential and $31.0 TP appeared first on Octafinance.