United Community Banks price target lowered to $28 from $30 at Piper Sandler

Piper Sandler lowered the firm’s price target on United Community Banks to $28 from $30 and keeps a Neutral rating on the shares. The firm is also lowering its 2024/2025 to $2.00/$2.30 from $2.24/$2.43 as it took estimates down largely on a lower net interest income trajectory, while expenses were also slightly higher than previously modeled. United Community Banks mentioned that it is working hard to bring down higher-cost deposit accounts and is pursuing cost saves across the franchise, says Piper.