Price Action Don’t Lie: Is Buying United Community Banks, Inc. Here a Winning Strategy?

Price Action Don't Lie: Is Buying United Community Banks, Inc. Here a Winning Strategy?

The stock of United Community Banks, Inc. (NASDAQ:UCBI) hit a new 52-week high and has $32.05 target or 22.00% above today’s $26.27 share price. The 8 months bullish chart indicates low risk for the $1.91B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $32.05 price target is reached, the company will be worth $420.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 229,875 shares traded hands. United Community Banks, Inc. (NASDAQ:UCBI) has risen 34.60% since April 19, 2016 and is uptrending. It has outperformed by 30.74% the S&P500.

United Community Banks, Inc. (NASDAQ:UCBI) Ratings Coverage

Out of 3 analysts covering United Community Banks Inc (NASDAQ:UCBI), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. United Community Banks Inc has been the topic of 3 analyst reports since January 21, 2016 according to StockzIntelligence Inc. As per Thursday, October 6, the company rating was upgraded by Raymond James. The firm has “Market Perform” rating given on Thursday, October 27 by Hovde Group.

Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 2.60, from 3.65 in 2016Q1. The ratio is negative, as 7 funds sold all United Community Banks, Inc. shares owned while 27 reduced positions. 32 funds bought stakes while 92 increased positions. They now own 118.02 million shares or 102.75% more from 58.21 million shares in 2016Q1.
Princeton Alpha Management Lp has 0.18% invested in the company for 56,284 shares. Moreover, Kanaly Trust has 0% invested in United Community Banks, Inc. (NASDAQ:UCBI) for 20 shares. First Quadrant Ltd Partnership Ca has 63,600 shares for 0.03% of their US portfolio. Aqr Capital Mgmt Lc holds 133,833 shares or 0% of its portfolio. Clarivest Asset Mngmt Ltd Liability Corp accumulated 0.1% or 177,346 shares. Seawolf Limited Liability Company has 283,375 shares for 4.04% of their US portfolio. Bank Of Montreal Can last reported 0% of its portfolio in the stock. Glenmede Tru Na last reported 0% of its portfolio in the stock. Numeric Limited Liability Corporation holds 0.01% or 61,300 shares in its portfolio. Arizona State Retirement Systems reported 36,481 shares or 0.01% of all its holdings. Ladenburg Thalmann Financial owns 1,045 shares or 0% of their US portfolio. Swiss Bankshares last reported 106,900 shares in the company. Citigroup accumulated 32,242 shares or 0% of the stock. First Citizens Fincl Bank Tru Communications holds 0.04% of its portfolio in United Community Banks, Inc. (NASDAQ:UCBI) for 25,959 shares. Blackrock Institutional Communication Na has 1.80 million shares for 0.01% of their US portfolio.

More recent United Community Banks, Inc. (NASDAQ:UCBI) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Redwood Trust, Digital Realty Trust and United Community …” on September 09, 2016. Also Globenewswire.com published the news titled: “United Community Banks, Inc. Appoints Two New Board Members, David Shaver and …” on August 10, 2016. Globenewswire.com‘s news article titled: “United Community Banks, Inc. Announces Completion of Merger With Tidelands …” with publication date: July 01, 2016 was also an interesting one.

United Community Banks, Inc. is a bank holding company. The company has a market cap of $1.91 billion. The Company’s principal business is conducted by its subsidiary, United Community Bank . It has a 20.65 P/E ratio. The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

UCBI Company Profile

United Community Banks, Inc., incorporated on October 21, 1987, is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee. The Bank provides a full range of banking services. The Bank offers a full 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.

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