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Shares of United Community Banks Under Pressure, Down 3.0%

Published on Mon, 04/22/2013 - 10:24
By Peter Chu

United Community Banks (NASDAQ:UCBI) is one of today's notable stocks in decline, down 3.0% to $10.20. The S&P is currently trading fractionally lower to 1,553 and the Dow Jones Industrial Average is trading 0.4% lower to 14,487.

Potential upside of 12.7% exists for United Community Banks, based on a current level of $10.20 and analysts' average consensus price target of $11.50. The stock should hit resistance at its 50-day moving average (MA) of $10.91, as well as support at its 200-day MA of $9.18.

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.

In the past 52 weeks, shares of United Community Banks have traded between a low of $5.95 and a high of $14.65 and are now at $10.20, which is 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.5%.

By Peter Chu