Victory Capital Management Inc. decreased its position in United Community Banks, Inc. (NASDAQ:UCBI – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,038,573 shares of the financial services provider’s stock after selling 7,344 shares during the period. Victory Capital Management Inc. owned 0.98% of United Community Banks worth $34,377,000 as of its most recent filing with the SEC.
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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado purchased a new stake in United Community Banks in the 2nd quarter valued at about $538,000. Cetera Advisor Networks LLC increased its stake in United Community Banks by 102.0% in the 2nd quarter. Cetera Advisor Networks LLC now owns 12,176 shares of the financial services provider’s stock valued at $368,000 after buying an additional 6,149 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in United Community Banks by 16.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 17,630 shares of the financial services provider’s stock valued at $532,000 after buying an additional 2,529 shares during the last quarter. JCSD Capital LLC increased its stake in United Community Banks by 5.1% in the 2nd quarter. JCSD Capital LLC now owns 103,756 shares of the financial services provider’s stock valued at $3,132,000 after buying an additional 5,000 shares during the last quarter. Finally, Csenge Advisory Group increased its stake in United Community Banks by 16.2% in the 3rd quarter. Csenge Advisory Group now owns 21,489 shares of the financial services provider’s stock valued at $711,000 after buying an additional 2,993 shares during the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have commented on UCBI. Truist Financial decreased their price objective on shares of United Community Banks from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Friday. Piper Sandler decreased their price target on shares of United Community Banks from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday. Janney Montgomery Scott lowered shares of United Community Banks from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, StockNews.com lowered shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, United Community Banks presently has a consensus rating of “Hold” and a consensus target price of $35.00.
United Community Banks Trading Up 2.9 %
Shares of UCBI stock opened at $31.92 on Monday. The company has a 50 day moving average of $35.25 and a 200-day moving average of $34.73. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.34. United Community Banks, Inc. has a 12-month low of $27.85 and a 12-month high of $39.50. The firm has a market cap of $3.39 billion, a P/E ratio of 12.67 and a beta of 1.03.
United Community Banks Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, December 14th. United Community Banks’s dividend payout ratio (DPR) is presently 34.92%.
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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