US Bancorp DE Buys Shares of 15,487 United Community Banks, Inc. (NASDAQ:UCB)

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 stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,487 shares of the company's stock, valued at approximately $436,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of UCB. HHM Wealth Advisors LLC acquired a new stake in shares of United Community Banks during the first quarter worth $130,000. CAP Partners LLC bought a new position in shares of United Community Banks in the 1st quarter valued at $536,000. Natixis Advisors LLC grew its position in United Community Banks by 55.8% during the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the company's stock worth $675,000 after acquiring an additional 8,603 shares during the last quarter. Vestcor Inc bought a new position in shares of United Community Banks during the first quarter valued at $238,000. Finally, XTX Topco Ltd bought a new stake in United Community Banks in the first quarter valued at approximately $259,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $2,425,541.30. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UCB. Keefe, Bruyette & Woods upped their target price on 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. Hovde Group raised their price target on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. DA Davidson lifted their price objective on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, United Community Banks currently has a consensus rating of "Hold" and a consensus target price of $34.57.

United Community Banks Stock Down 1.2%

Shares of NASDAQ:UCB traded down $0.37 during trading on Friday, hitting $31.19. 580,554 shares of the company were exchanged, compared to its average volume of 721,053. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm's 50 day moving average price is $30.32 and its 200-day moving average price is $29.44. The stock has a market capitalization of $3.79 billion, a P/E ratio of 15.29 and a beta of 0.83. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38.

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 business's revenue was up 6.1% on a year-over-year basis. On average, research 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 3.2%. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's payout ratio is currently 45.45%.

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.