United Community Banks price target lowered to $30 from $32 at Truist

Truist lowered the firm’s price target on United Community Banks (UCB) to $30 from $32 and keeps a Hold rating on the shares as part of a broader research note recapping Q3 results for Banks. The firm notes that while the company’s credit quality was mixed, it was “encouraged” by the continued decline in Nativas net charge offs. Truist adds that its revisions primarily reflect a higher net interest income and lower expenses for United Community Banks, offset partially by lower fees.