US Bancorp DE lowered its position in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,750 shares of the financial services provider’s stock after selling 4,685 shares during the quarter. US Bancorp DE’s holdings in United Community Banks were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado purchased a new stake in United Community Banks in the second quarter worth approximately $538,000. Cetera Advisor Networks LLC boosted its stake in shares of United Community Banks by 102.0% during the second quarter. Cetera Advisor Networks LLC now owns 12,176 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 6,149 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of United Community Banks by 16.7% during the second quarter. Mutual of America Capital Management LLC now owns 17,630 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 2,529 shares during the period. JCSD Capital LLC boosted its stake in shares of United Community Banks by 5.1% during the second quarter. JCSD Capital LLC now owns 103,756 shares of the financial services provider’s stock valued at $3,132,000 after purchasing an additional 5,000 shares during the period. Finally, Csenge Advisory Group boosted its stake in shares of United Community Banks by 16.2% during the third quarter. Csenge Advisory Group now owns 21,489 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 2,993 shares during the period. Hedge funds and other institutional investors own 85.41% of the company’s stock.
United Community Banks Price Performance
Shares of United Community Banks stock opened at $31.01 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.29 billion, a PE ratio of 13.31 and a beta of 1.03. The business has a 50 day moving average of $35.37 and a 200 day moving average of $34.67. United Community Banks, Inc. has a 52 week low of $27.85 and a 52 week high of $39.50.
United Community Banks (NASDAQ:UCBI – Get Rating) last announced its earnings results on Tuesday, October 18th. The financial services provider reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $231.70 million during the quarter, compared to the consensus estimate of $226.68 million. United Community Banks had a return on equity of 10.99% and a net margin of 28.92%. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. As a group, equities research analysts forecast that United Community Banks, Inc. will post 2.75 earnings per share for the current year.
United Community Banks Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were issued a $0.22 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.84%. United Community Banks’s dividend payout ratio (DPR) is 37.77%.
Analysts Set New Price Targets
UCBI has been the subject of a number of analyst reports. Piper Sandler dropped their price objective on United Community Banks from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com lowered United Community Banks from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. Finally, Janney Montgomery Scott lowered United Community Banks from a “buy” rating to a “neutral” rating in a research note on Thursday.
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.
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