4. QUALITY EDUCATION

United Community Banks, Inc. (NASDAQ:UCBI) Shares Acquired by Louisiana State Employees Retirement System – Defense World

Written by Amanda

Louisiana State Employees Retirement System grew its position in United Community Banks, Inc. (NASDAQ:UCBIGet Rating) by 17.8% during the first quarter, Holdings Channel reports. The firm owned 50,900 shares of the financial services provider’s stock after acquiring an additional 7,700 shares during the period. Louisiana State Employees Retirement System’s holdings in United Community Banks were worth $1,639,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of United Community Banks by 11.7% in the fourth quarter. Geode Capital Management LLC now owns 1,763,792 shares of the financial services provider’s stock valued at $63,391,000 after purchasing an additional 185,209 shares during the period. Los Angeles Capital Management LLC grew its holdings in United Community Banks by 199.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 34,341 shares of the financial services provider’s stock worth $1,234,000 after acquiring an additional 22,860 shares during the period. Schroder Investment Management Group grew its holdings in United Community Banks by 13.2% during the fourth quarter. Schroder Investment Management Group now owns 2,391,301 shares of the financial services provider’s stock worth $85,943,000 after acquiring an additional 279,544 shares during the period. Nisa Investment Advisors LLC grew its holdings in United Community Banks by 10.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,663 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 2,263 shares during the period. Finally, State Street Corp grew its holdings in United Community Banks by 9.3% during the fourth quarter. State Street Corp now owns 4,646,495 shares of the financial services provider’s stock worth $167,848,000 after acquiring an additional 395,719 shares during the period. 79.51% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. Truist Financial dropped their target price on United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th. Piper Sandler dropped their target price on United Community Banks to $37.00 in a report on Monday, July 4th. Raymond James lowered United Community Banks from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Finally, StockNews.com lowered United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd.

Shares of UCBI stock opened at $30.87 on Friday. The company has a market capitalization of $3.27 billion, a P/E ratio of 11.97 and a beta of 1.03. The business’s 50 day moving average is $30.36 and its two-hundred day moving average is $33.77. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12. United Community Banks, Inc. has a 12-month low of $27.62 and a 12-month high of $39.32.

United Community Banks (NASDAQ:UCBIGet Rating) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $202.77 million for the quarter, compared to analysts’ expectations of $202.89 million. United Community Banks had a return on equity of 11.93% and a net margin of 32.10%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS. On average, research analysts predict that United Community Banks, Inc. will post 2.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, June 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. United Community Banks’s dividend payout ratio is currently 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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Want to see what other hedge funds are holding UCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NASDAQ:UCBIGet Rating).

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai