8,745 Shares in United Community Banks, Inc. (NASDAQ:UCB) Bought by Cypress Capital Group

Key Points

• Cypress Capital Group acquired 8,745 shares of United Community Banks, Inc. valued at approximately $246,000 in the 1st quarter, highlighting growing institutional interest in the bank.
• The recent quarterly earnings report showed a earnings per share of $0.66, exceeding analyst expectations of $0.61, alongside a 6.1% increase in quarterly revenue compared to the previous year.
• United Community Banks also declared a $0.24 quarterly dividend, with a dividend yield of 3.2% and a payout ratio of 43.64%.

Cypress Capital Group bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,745 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UCB. LPL Financial LLC bought a new position in United Community Banks in the fourth quarter valued at about $1,246,000. Alliancebernstein L.P. bought a new stake in shares of United Community Banks during the fourth quarter worth about $4,753,000. Wells Fargo & Company MN bought a new stake in shares of United Community Banks during the fourth quarter worth about $6,385,000. Envestnet Asset Management Inc. bought a new stake in shares of United Community Banks during the fourth quarter worth about $8,496,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of United Community Banks during the fourth quarter worth about $3,141,000. Institutional investors own 82.29% of the company's stock.

Insider Activity at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction that occurred on 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 trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.43% of the stock is currently owned by company insiders.

United Community Banks Trading Up 2.3%

UCB stock traded up $0.70 during trading on Wednesday, hitting $31.60. The company had a trading volume of 580,320 shares, compared to its average volume of 723,515. The stock has a market cap of $3.84 billion, a PE ratio of 15.49 and a beta of 0.83. United Community Banks, Inc. has a one year low of $22.93 and a one 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 $30.23 and a 200-day moving average of $29.49.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its quarterly earnings data 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 company's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. United Community Banks's dividend payout ratio (DPR) is 43.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UCB. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target on United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Hovde Group upped their target price on United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. DA Davidson upped their target price on United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of United Community Banks in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, United Community Banks presently has an average rating of "Hold" and an average target price of $34.57.

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.