United Community Banks price target lowered to $25 from $26 at Truist

Truist lowered the firm’s price target on United Community Banks to $25 from $26 and keeps a Hold rating on the shares after its Q3 earnings miss. The analyst cites the company’s lower net interest income from slower balance sheet growth and lower fee income, though the firm also believes that its net interest margins will stabilize in Q1. Net interest margins should stabilize in Q1 as asset repricing begins to more than offset incremental deposit costs, though the upside should be limited as there is little capacity to paydown higher cost funds, the firm added.