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Citigroup Inc. cut its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB – Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 228,734 shares of the company’s stock after selling 9,476 shares during the period. Citigroup Inc.’s holdings in United Community Banks were worth $6,434,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in UCB. Mutual of America Capital Management LLC bought a new stake in shares of United Community Banks during the first quarter valued at approximately $489,000. Deutsche Bank AG boosted its position in shares of United Community Banks by 13.2% during the first quarter. Deutsche Bank AG now owns 113,794 shares of the company’s stock valued at $3,201,000 after purchasing an additional 13,253 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of United Community Banks during the first quarter valued at approximately $40,871,000. Vanguard Group Inc. boosted its position in shares of United Community Banks by 2.9% during the first quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company’s stock valued at $403,295,000 after purchasing an additional 404,866 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in shares of United Community Banks during the first quarter valued at approximately $468,000. 82.29% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at United Community Banks
In other news, EVP Richard Bradshaw sold 1,616 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the transaction, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by corporate insiders.
United Community Banks Trading Down 1.2%
United Community Banks stock opened at $31.19 on Monday. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The business’s fifty day simple moving average is $30.32 and its two-hundred day simple moving average is $29.41. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 15.29 and a beta of 0.83.
United Community Banks (NASDAQ:UCB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.
United Community Banks Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. This is an increase from United Community Banks’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. United Community Banks’s dividend payout ratio (DPR) is presently 45.45%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on UCB. Keefe, Bruyette & Woods lifted their price target on United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Raymond James Financial reissued a “market perform” rating on shares of United Community Banks in a report on Tuesday, July 8th. Hovde Group boosted their target price on United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Finally, DA Davidson boosted their target price on United Community Banks from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.57.
View Our Latest Stock Analysis on United Community Banks
United Community Banks 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. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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