CAP Partners LLC acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,058 shares of the company's stock, valued at approximately $536,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in UCB. Nomura Asset Management Co. Ltd. bought a new position in shares of United Community Banks during the 4th quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of United Community Banks in the 1st quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks in the 4th quarter worth $42,000. Quadrant Capital Group LLC purchased a new stake in shares of United Community Banks in the 4th quarter worth $45,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of United Community Banks in the 1st quarter worth $45,000. 82.29% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on UCB. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Hovde Group upped their price objective on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. DA Davidson increased their price target on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods increased their price target on United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, United Community Banks has a consensus rating of "Hold" and an average price target of $34.57.
Get Our Latest Research Report on UCB
Insider Transactions at United Community Banks
In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.94, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.43% of the stock is currently owned by insiders.
United Community Banks Stock Down 1.5%
UCB opened at $30.76 on Thursday. The firm has a 50-day simple moving average of $29.92 and a two-hundred day simple moving average of $29.64. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a market capitalization of $3.74 billion, a PE ratio of 15.08 and a beta of 0.78. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.
United Community Banks (NASDAQ:UCB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 16.48% and a return on equity of 8.64%. United Community Banks's quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.
United Community Banks Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's payout ratio is 43.64%.
United Community Banks Profile
(
Free Report)
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.
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