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. purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 63,041 shares of the company's stock, valued at approximately $1,773,000. Jupiter Asset Management Ltd. owned about 0.05% of United Community Banks at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in United Community Banks during the fourth quarter valued at approximately $42,000. Versant Capital Management Inc acquired a new position in United Community Banks during the first quarter worth $37,000. Quadrant Capital Group LLC bought a new position in shares of United Community Banks during the fourth quarter valued at $45,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of United Community Banks in the 1st quarter valued at $45,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of United Community Banks in the 4th quarter worth about $59,000. Institutional investors own 82.29% of the company's stock.

Insider Buying and Selling

In other news, EVP Richard Bradshaw sold 1,616 shares of the firm's 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 in the company, valued at $2,425,541.30. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.43% of the company's stock.

United Community Banks Trading Down 0.8%

Shares of UCB stock traded down $0.25 on Wednesday, reaching $29.89. The company had a trading volume of 547,388 shares, compared to its average volume of 731,392. The stock has a market cap of $3.63 billion, a PE ratio of 14.65 and a beta of 0.83. The company has a 50-day moving average of $30.05 and a 200-day moving average of $29.58. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. 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, beating 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 quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that United Community Banks, Inc. will post 2.52 earnings per share for the current year.

United Community Banks Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on UCB shares. Stephens restated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. DA Davidson lifted their price objective 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. Hovde Group increased 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. Finally, 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 report on Monday, July 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, United Community Banks presently has a consensus rating of "Hold" and a consensus price target of $34.57.

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.