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Upgrade Alert for United Community Banks (UCBI)

By Amy Schwartz

United Community Banks (NASDAQ:UCBI) was upgraded from Outperform to Strong Buy at Raymond James today. The stock closed yesterday at $21.41 on volume of 518,000 shares, above average daily volume of 473,000.

There is potential upside of 8.1% for shares of United Community Banks based on a current price of $21.41 and an average consensus analyst price target of $23.15. The stock should find initial support at its 200-day moving average (MA) of $19.38 and further support at its 50-day MA of $18.77.

In the past 52 weeks, United Community Banks share prices have been bracketed by a low of $15.74 and a high of $22.23 and closed yesterday at $21.41, 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.

United Community Banks, Inc. is a multi-bank holding company with locations throughout north Georgia and western North Carolina. The Banks are community oriented and offer retail and corporate banking services including checking, savings, and time deposit accounts, secured and unsecured loans, wire transfers, trust services, and rental of safe deposit boxes.

SmarTrend recommended that subscribers consider buying shares of United Community Banks on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.56. Since that recommendation, shares of United Community Banks have risen 8.3%. We continue to monitor UCBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades united community banks

Ticker(s): UCBI