Jupiter Asset Management Ltd. Makes New $1.77 Million Investment in United Community Banks, Inc. (NASDAQ:UCB)

Key Points

• Jupiter Asset Management Ltd. invested approximately $1.77 million in United Community Banks, acquiring 63,041 shares, reflecting a 0.05% ownership stake as per their latest SEC filing.
• United Community Banks reported a 12-month revenue increase of 6.1% and earnings per share of $0.66 for the recent quarter, surpassing the consensus estimate by $0.05.
• The company's quarterly dividend of $0.24, which equates to a 3.2% dividend yield, reflects a payout ratio of 43.64% among its stockholders.

Jupiter Asset Management Ltd. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 63,041 shares of the company's stock, valued at approximately $1,773,000. Jupiter Asset Management Ltd. owned 0.05% of United Community Banks as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of United Community Banks during the first quarter valued at approximately $37,000. Public Employees Retirement System of Ohio bought a new stake in shares of United Community Banks in the 4th quarter worth $42,000. Quadrant Capital Group LLC bought a new stake in shares of United Community Banks in the 4th quarter worth $45,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of United Community Banks in the first quarter valued at about $45,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of United Community Banks during the fourth quarter valued at about $59,000. Institutional investors own 82.29% of the company's stock.

Analyst Ratings Changes

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

United Community Banks Price Performance

NASDAQ UCB traded up $0.20 during trading hours on Friday, hitting $29.67. The company had a trading volume of 163,523 shares, compared to its average volume of 725,882. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 14.55 and a beta of 0.83. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The firm has a 50 day simple moving average of $30.08 and a 200 day simple moving average of $29.56.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 16.48% and a return on equity of 8.64%. United Community Banks's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that United Community Banks, Inc. will post 2.52 earnings per share for the current year.

United Community Banks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. United Community Banks's dividend payout ratio is presently 43.64%.

Insider Buying and Selling at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks stock in a transaction on Monday, July 28th. The stock was 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 approximately $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company's stock.

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.