Truist Financial Corp boosted its position in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 8.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,886 shares of the financial services provider’s stock after acquiring an additional 861 shares during the quarter. Truist Financial Corp’s holdings in United Community Banks were worth $379,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV acquired a new position in shares of United Community Banks during the first quarter worth approximately $54,000. Lazard Asset Management LLC lifted its stake in shares of United Community Banks by 54.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,605 shares of the financial services provider’s stock valued at $57,000 after buying an additional 563 shares in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of United Community Banks during the fourth quarter valued at about $146,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Community Banks in the 4th quarter worth about $147,000. Finally, Strs Ohio bought a new position in United Community Banks in the 4th quarter valued at about $172,000. 79.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently commented on UCBI shares. Raymond James downgraded United Community Banks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. StockNews.com raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Piper Sandler lowered their target price on shares of United Community Banks to $36.00 in a report on Friday, July 22nd. Finally, Truist Financial cut their price target on shares of United Community Banks from $34.00 to $32.00 in a report on Wednesday, June 15th.
United Community Banks Stock Up 2.0 %
UCBI stock opened at $32.99 on Thursday. The stock has a market cap of $3.50 billion, a P/E ratio of 13.69 and a beta of 1.03. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $33.38. United Community Banks, Inc. has a 1-year low of $27.62 and a 1-year high of $39.32.
United Community Banks (NASDAQ:UCBI – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). United Community Banks had a return on equity of 11.27% and a net margin of 30.10%. The company had revenue of $212.36 million during the quarter, compared to analysts’ expectations of $213.19 million. During the same period last year, the firm posted $0.79 earnings per share. United Community Banks’s quarterly revenue was up 21.9% compared to the same quarter last year. Analysts expect that United Community Banks, Inc. will post 2.65 EPS for the current year.
United Community Banks Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were issued a $0.21 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.55%. United Community Banks’s dividend payout ratio (DPR) is presently 34.85%.
United Community Banks Company Profile
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.
See Also
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Source: defenseworld.net
