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Stock Investors Bid Up Shares of United Community Banks, Up 2.1%

Published on Fri, 02/01/2013 - 11:21
By Adrienne Chilton

United Community Banks (NASDAQ:UCBI) is one of today's notable stocks on the rise, up 2.1% to $10.71. The Dow Jones Industrial Average is now trading 0.9% higher to 13,992 and the S&P is trading 0.7% higher to 1,509.

Over the past year, United Community Banks has traded in a range of $5.95 to $14.65 and is now at $10.71, 80% above that low. The 200-day and 50-day moving averages have moved 0.41% higher and 1.73% higher over the past week, respectively.

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.

There is potential upside of 6.2% for shares of United Community Banks based on a current price of $10.71 and an average consensus analyst price target of $11.38. The stock should discover initial support at its 50-day moving average (MA) of $9.35 and subsequent support at its 200-day MA of $8.59.

By Adrienne Chilton