FJ Capital Management LLC Takes $3.38 Million Position in United Community Banks, Inc. $UCB

Key Points

• FJ Capital Management LLC acquired 120,000 shares of United Community Banks, Inc. valued at approximately $3,376,000, representing about 0.10% ownership in the company.
• United Community Banks announced a quarterly dividend increase to $0.25 per share, yielding 3.0%, with the ex-dividend date set for September 15th.
• Wall Street analysts currently hold a consensus rating of "Hold" for United Community Banks, with price targets ranging from $34.00 to $36.00.

FJ Capital Management LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 120,000 shares of the company's stock, valued at approximately $3,376,000. FJ Capital Management LLC owned approximately 0.10% of United Community Banks as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in United Community Banks in the first quarter valued at approximately $26,000. Versant Capital Management Inc purchased a new stake in United Community Banks in the first quarter valued at approximately $37,000. Public Employees Retirement System of Ohio purchased a new stake in United Community Banks in the fourth quarter valued at approximately $42,000. MassMutual Private Wealth & Trust FSB purchased a new stake in United Community Banks in the first quarter valued at approximately $45,000. Finally, Tower Research Capital LLC TRC purchased a new position in United Community Banks during the 4th quarter worth $59,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the sale, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Hovde Group raised their price objective on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. DA Davidson raised their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods raised their price objective on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.57.

United Community Banks Stock Performance

Shares of United Community Banks stock traded down $0.31 during trading hours on Friday, hitting $33.28. 440,740 shares of the company were exchanged, compared to its average volume of 702,771. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. 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 business has a 50-day moving average of $31.51 and a 200-day moving average of $29.38. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 16.31 and a beta of 0.86.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 EPS 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 company's revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. This is a positive change from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date is Monday, September 15th. United Community Banks's dividend payout ratio (DPR) is 45.45%.

About United Community Banks

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.