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Stock Investors Sell Off Shares of United Community Banks, Down 1.6%

Published on Fri, 02/08/2013 - 13:24
By Peter Chu

Down 1.6% to $10.65, United Community Banks (NASDAQ:UCBI), is one of today's notable movers. The S&P is trading higher by 0.5% to 1,516 and the Dow is trading 0.3% higher to 13,990.

United Community Banks share prices have moved between a 52-week high of $14.65 and a 52-week low of $5.95 and are now trading 79% above that low price at $10.65 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.9% while the 200-day MA has risen 0.4%.

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.

United Community Banks (NASDAQ:UCBI) has potential upside of 8.0% based on a current price of $10.65 and analysts' consensus price target of $11.50. The stock should discover initial support at its 50-day moving average (MA) of $9.58 and subsequent support at its 200-day MA of $8.63.

By Peter Chu
pchu@fnno.com

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