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

DA Davidson lowered the firm’s price target on United Community Banks to $30 from $32 but keeps a Buy rating on the shares. The firm was "disappointed" by the bank’s core EPS miss and believes that deposit pricing pressure will continue into Q2, but United Community also expects to see its net interest margins stabilize in the back half of the year, the analyst tells investors in a research note. DA Davidson adds that importantly, United Community Bank demonstrated balance sheet stability with increased deposits and liquidity.