Stevens Capital Management LP bought a new stake in United Community Banks, Inc. (NASDAQ:UCBI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,742 shares of the financial services provider’s stock, valued at approximately $243,000.
Several other institutional investors and hedge funds have also modified their holdings of UCBI. Teachers Advisors LLC boosted its holdings in United Community Banks by 2.3% in the third quarter. Teachers Advisors LLC now owns 955,276 shares of the financial services provider’s stock valued at $26,643,000 after acquiring an additional 21,221 shares during the last quarter. Legal & General Group Plc boosted its holdings in United Community Banks by 14.3% in the third quarter. Legal & General Group Plc now owns 184,334 shares of the financial services provider’s stock valued at $5,148,000 after acquiring an additional 23,085 shares during the last quarter. Morgan Stanley boosted its holdings in United Community Banks by 71.3% in the third quarter. Morgan Stanley now owns 469,070 shares of the financial services provider’s stock valued at $13,081,000 after acquiring an additional 195,216 shares during the last quarter. Vanguard Group Inc. boosted its holdings in United Community Banks by 2.4% in the third quarter. Vanguard Group Inc. now owns 7,523,220 shares of the financial services provider’s stock valued at $209,823,000 after acquiring an additional 177,250 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in United Community Banks by 7.5% in the fourth quarter. Bank of Montreal Can now owns 9,220 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 645 shares during the last quarter. Institutional investors own 90.52% of the company’s stock.
In other news, EVP Bradley J. Miller sold 8,627 shares of United Community Banks stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $29.16, for a total transaction of $251,563.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by company insiders.
UCBI traded up $0.15 during midday trading on Monday, reaching $27.49. 362 shares of the company were exchanged, compared to its average volume of 425,002. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. United Community Banks, Inc. has a one year low of $20.23 and a one year high of $34.18. The stock has a market cap of $2.17 billion, a P/E ratio of 12.85 and a beta of 1.25.
United Community Banks (NASDAQ:UCBI) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The firm had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. During the same quarter last year, the business earned $0.50 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that United Community Banks, Inc. will post 2.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a yield of 2.47%. This is a boost from United Community Banks’s previous quarterly dividend of $0.16. United Community Banks’s dividend payout ratio (DPR) is 29.91%.
A number of equities analysts have issued reports on UCBI shares. Zacks Investment Research cut United Community Banks from a “buy” rating to a “sell” rating in a report on Friday, April 12th. BidaskClub upgraded United Community Banks from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. ValuEngine cut United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. SunTrust Banks raised their target price on United Community Banks to $29.00 and gave the stock a “hold” rating in a report on Friday, January 25th. Finally, Stephens restated a “hold” rating and set a $27.00 target price on shares of United Community Banks in a report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. United Community Banks currently has a consensus rating of “Hold” and an average price target of $29.33.
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About United Community Banks
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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