Citigroup Inc. Sells 9,476 Shares of United Community Banks, Inc. $UCB

Key Points

• Citigroup Inc. decreased its stake in United Community Banks, Inc. by 4% in Q1, selling 9,476 shares, and now holds 228,734 shares worth approximately $6.4 million.
• United Community Banks recently declared a quarterly dividend of $0.25, increased from $0.24, yielding 3.2% annually with a payout ratio of 45.45%.
• Analysts have set new price targets for the stock, with Hovde Group raising their target from $35.00 to $36.00 and overall average target price currently at $34.57.

Citigroup Inc. lowered its stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,734 shares of the company's stock after selling 9,476 shares during the quarter. Citigroup Inc. owned approximately 0.19% of United Community Banks worth $6,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks in the 4th quarter valued at about $42,000. Versant Capital Management Inc purchased a new stake in shares of United Community Banks in the 1st quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of United Community Banks in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC purchased a new position in shares of United Community Banks during the 4th quarter valued at about $59,000. Finally, CWM LLC bought a new stake in United Community Banks in the 1st quarter worth approximately $62,000. Institutional investors own 82.29% of the company's stock.

United Community Banks Price Performance

Shares of United Community Banks stock opened at $31.19 on Monday. 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 business's 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $29.41. The stock has a market capitalization of $3.79 billion, a P/E ratio of 15.29 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.

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, topping analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%. United Community Banks's revenue was up 6.1% compared to the same quarter last year. Analysts forecast that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. This is an increase from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. United Community Banks's payout ratio is presently 45.45%.

Insider Buying and Selling

In other 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 directly owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

United Community Banks Company 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.

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