FSI Group LLC Has $522,000 Stake in United Community Banks, Inc. (NASDAQ:UCBI)

Share on StockTwits

FSI Group LLC decreased its position in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 8.2% during the first quarter, HoldingsChannel.com reports. The firm owned 20,946 shares of the financial services provider’s stock after selling 1,874 shares during the period. United Community Banks comprises 0.6% of FSI Group LLC’s investment portfolio, making the stock its 23rd biggest holding. FSI Group LLC’s holdings in United Community Banks were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can grew its stake in shares of United Community Banks by 7.5% during the fourth quarter. Bank of Montreal Can now owns 9,220 shares of the financial services provider’s stock worth $198,000 after buying an additional 645 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of United Community Banks by 31.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 18,339 shares of the financial services provider’s stock worth $394,000 after buying an additional 4,400 shares during the last quarter. Rhumbline Advisers grew its stake in shares of United Community Banks by 21.1% during the fourth quarter. Rhumbline Advisers now owns 230,251 shares of the financial services provider’s stock worth $4,941,000 after buying an additional 40,119 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of United Community Banks during the fourth quarter worth $150,000. Finally, Rothschild & Co. Asset Management US Inc. grew its stake in shares of United Community Banks by 4.9% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 426,570 shares of the financial services provider’s stock worth $9,154,000 after buying an additional 19,945 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of United Community Banks stock opened at $27.44 on Tuesday. 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 twelve month low of $20.23 and a twelve month high of $34.09. The firm has a market capitalization of $2.16 billion, a P/E ratio of 12.82 and a beta of 1.24.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. United Community Banks had a net margin of 27.98% and a return on equity of 12.33%. The company had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. United Community Banks’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that United Community Banks, Inc. will post 2.34 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Saturday, June 15th will be paid a $0.17 dividend. This is a boost from United Community Banks’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.48%. United Community Banks’s payout ratio is currently 29.91%.

A number of research firms have weighed in on UCBI. Zacks Investment Research raised shares of United Community Banks from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, May 22nd. BidaskClub raised shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. ValuEngine raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods cut shares of United Community Banks from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Sunday, February 24th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.17.

ILLEGAL ACTIVITY WARNING: “FSI Group LLC Has $522,000 Stake in United Community Banks, Inc. (NASDAQ:UCBI)” was first reported by Highlight Press and is the sole property of of Highlight Press. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://highlightpress.com/2019/06/11/fsi-group-llc-has-522000-stake-in-united-community-banks-inc-nasdaqucbi.html.

United Community Banks Profile

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.

Featured Story: How to interpret a stock’s beta number

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:UCBI).

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

Receive News & Ratings for United Community Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks and related companies with MarketBeat.com's FREE daily email newsletter.