State of Alaska Department of Revenue lessened its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 73,107 shares of the financial services provider’s stock after selling 735 shares during the period. State of Alaska Department of Revenue’s holdings in United Community Banks were worth $2,544,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in UCBI. Invesco Ltd. boosted its holdings in shares of United Community Banks by 1.2% during the 3rd quarter. Invesco Ltd. now owns 242,660 shares of the financial services provider’s stock valued at $7,964,000 after purchasing an additional 2,839 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of United Community Banks by 114.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 53,846 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 28,716 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of United Community Banks by 130.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 95,234 shares of the financial services provider’s stock valued at $3,126,000 after purchasing an additional 53,939 shares during the last quarter. Comerica Bank boosted its holdings in shares of United Community Banks by 96.8% during the 3rd quarter. Comerica Bank now owns 160,135 shares of the financial services provider’s stock valued at $5,203,000 after purchasing an additional 78,786 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of United Community Banks by 1.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 100,887 shares of the financial services provider’s stock valued at $3,311,000 after purchasing an additional 977 shares during the last quarter. 79.51% of the stock is owned by institutional investors and hedge funds.
UCBI has been the subject of a number of analyst reports. StockNews.com downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Raymond James downgraded shares of United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Finally, Truist Financial lowered their price target on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th.
Shares of NASDAQ UCBI opened at $30.19 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.76 and a quick ratio of 0.75. The company has a market cap of $3.20 billion, a P/E ratio of 11.70 and a beta of 1.07. United Community Banks, Inc. has a 1 year low of $27.62 and a 1 year high of $39.32. The firm has a 50-day simple moving average of $30.38 and a two-hundred day simple moving average of $33.88.
United Community Banks (NASDAQ:UCBI – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $202.77 million during the quarter, compared to the consensus estimate of $202.89 million. United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. As a group, equities research analysts expect that United Community Banks, Inc. will post 2.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, June 14th. United Community Banks’s dividend payout ratio (DPR) is presently 32.56%.
About United Community Banks (Get Rating)
United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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Source: defenseworld.net