47,900 Shares in United Community Banks, Inc. $UCB Acquired by Amundi

Key Points

• Amundi has made a new investment of approximately $1.35 million in United Community Banks, purchasing 47,900 shares.
• United Community Banks has recently announced an increase in its dividend to $0.25 per share, representing a yield of 3.1% and a total annualized dividend of $1.00.
• Wall Street analysts have generally rated UCB as a "Hold," with a consensus price target of $34.57, reflecting positive growth expectations for the bank.

Amundi acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 47,900 shares of the company's stock, valued at approximately $1,347,000.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp acquired a new stake in shares of United Community Banks in the first quarter valued at $926,000. Amalgamated Bank acquired a new stake in shares of United Community Banks in the first quarter valued at $957,000. Principal Financial Group Inc. acquired a new stake in shares of United Community Banks in the first quarter valued at $16,721,000. GAMMA Investing LLC acquired a new stake in shares of United Community Banks in the first quarter valued at $132,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of United Community Banks in the first quarter valued at $460,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

United Community Banks Stock Performance

Shares of UCB stock traded up $0.88 during mid-day trading on Thursday, hitting $32.44. 872,630 shares of the stock were exchanged, compared to its average volume of 695,986. The stock's fifty day simple moving average is $31.68 and its two-hundred day simple moving average is $29.39. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 15.90 and a beta of 0.86. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its 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 net margin of 16.48% and a return on equity of 8.64%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. This is a positive change from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's payout ratio is presently 45.45%.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 78,395 shares in the company, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

UCB has been the topic of several recent analyst reports. Hovde Group increased 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 increased 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. Keefe, Bruyette & Woods increased their target price 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. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.