United Community Banks, Inc. $UCB Shares Sold by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP has reduced its stake in United Community Banks by 60.8%, leaving it with a total of 7,711 shares valued at approximately $217,000.
• United Community Banks is set to pay a quarterly dividend of $0.25 per share on October 3rd, marking an increase from the previous quarterly dividend of $0.24.
• Analysts have recently raised their price targets for United Community Banks, with a consensus target now set at $34.57.

Advantage Alpha Capital Partners LP lessened its stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 60.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,711 shares of the company's stock after selling 11,966 shares during the period. Advantage Alpha Capital Partners LP's holdings in United Community Banks were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in UCB. Cerity Partners LLC purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $271,000. Mariner LLC purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $1,877,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $4,666,000. First Trust Advisors LP purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $2,896,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of United Community Banks during the fourth quarter valued at about $2,331,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Up 1.5%

NASDAQ UCB traded up $0.50 during trading on Tuesday, hitting $33.16. The company's stock had a trading volume of 491,379 shares, compared to its average volume of 712,360. 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 company has a market cap of $4.03 billion, a PE ratio of 16.25 and a beta of 0.83. The business's 50 day simple moving average is $30.66 and its 200-day simple moving average is $29.34. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 15th. United Community Banks's dividend payout ratio is presently 45.45%.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks stock in a transaction dated 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 $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on UCB shares. Hovde Group increased their price target 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. DA Davidson increased their price target on shares of United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, United Community Banks currently has a consensus 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.