15,487 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by US Bancorp DE

Key Points

• US Bancorp DE acquired 15,487 shares of United Community Banks, Inc., valued at approximately $436,000, strengthening its position in the company during the first quarter.
• United Community Banks reported a quarterly EPS of $0.66, exceeding the consensus estimate of $0.61, with a net margin of 16.48% and year-over-year revenue growth of 6.1%.
• Recent analyst ratings have resulted in a consensus "Hold" rating for United Community Banks, with target prices mostly around $36.00.

US Bancorp DE acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,487 shares of the company's stock, valued at approximately $436,000.

Several other institutional investors and hedge funds also recently made changes to their positions in UCB. Versant Capital Management Inc bought a new stake in United Community Banks in the first quarter valued at about $37,000. Public Employees Retirement System of Ohio acquired a new position in United Community Banks in the fourth quarter valued at approximately $42,000. MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks in the first quarter worth $45,000. Tower Research Capital LLC TRC acquired a new stake in United Community Banks in the fourth quarter worth $59,000. Finally, CWM LLC bought a new stake in shares of United Community Banks during the first quarter worth $62,000. Institutional investors own 82.29% of the company's stock.

Insider Transactions at United Community Banks

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Hovde Group raised their target price on shares of United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Stephens restated an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research note on Wednesday, April 23rd. DA Davidson lifted 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 note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of 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. Finally, Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $34.57.

United Community Banks Trading Up 4.4%

Shares of United Community Banks stock opened at $30.93 on Wednesday. The firm has a market cap of $3.76 billion, a PE ratio of 15.16 and a beta of 0.83. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a 50 day simple moving average of $30.17 and a two-hundred day simple moving average of $29.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its 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 net margin of 16.48% and a return on equity of 8.64%. The firm's revenue was up 6.1% compared to the same quarter last year. Analysts expect that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Sunday, June 15th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.1%. United Community Banks's dividend payout ratio is currently 43.64%.

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.

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