65,337 Shares in United Community Banks, Inc. $UCB Bought by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC has acquired a new stake in United Community Banks, purchasing 65,337 shares valued at approximately $1,838,000, constituting about 0.05% of the company.
• United Community Banks recently increased its quarterly dividend to $0.25 per share, a rise from the previous $0.24, reflecting a healthy annualized dividend yield of 3.2%.
• The company's stock is currently trading at $31.19 and has a market capitalization of $3.79 billion, with a consensus rating of "Hold" from analysts.

Cambiar Investors LLC purchased a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 65,337 shares of the company's stock, valued at approximately $1,838,000. Cambiar Investors LLC owned about 0.05% of United Community Banks at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of UCB. Envestnet Asset Management Inc. purchased a new position in United Community Banks during the fourth quarter worth about $8,496,000. Cerity Partners LLC acquired a new position in United Community Banks in the 4th quarter valued at about $271,000. Bank of Montreal Can acquired a new position in United Community Banks in the 4th quarter valued at about $508,000. Sterling Capital Management LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at approximately $124,000. Finally, Summit Investment Advisors Inc. purchased a new stake in shares of United Community Banks during the 4th quarter valued at approximately $404,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Up 0.0%

NASDAQ:UCB traded up $0.0050 during mid-day trading on Thursday, hitting $31.2750. The stock had a trading volume of 379,587 shares, compared to its average volume of 713,227. The stock has a 50-day simple moving average of $30.43 and a two-hundred day simple moving average of $29.43. The company has a market capitalization of $3.80 billion, a PE ratio of 15.33 and a beta of 0.83. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month 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.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share 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 revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current 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 paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This is an increase from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. United Community Banks's payout ratio is presently 45.45%.

Wall Street Analyst Weigh In

UCB has been the topic of several analyst reports. DA Davidson lifted 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. Stephens reaffirmed an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods lifted 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. Hovde Group lifted 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. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, United Community Banks currently has a consensus rating of "Hold" and a consensus target price of $34.57.

Insider Activity at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.

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.