Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 27,503 United Community Banks, Inc. $UCB

Connor Clark & Lunn Investment Management Ltd. purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 27,503 shares of the company's stock, valued at approximately $774,000.

A number of other large investors also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $42,000. Versant Capital Management Inc purchased a new stake in shares of United Community Banks during the 1st quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of United Community Banks during the 1st quarter worth approximately $45,000. Tower Research Capital LLC TRC purchased a new stake in shares of United Community Banks during the 4th quarter worth approximately $59,000. Finally, CWM LLC purchased a new stake in shares of United Community Banks during the 1st quarter worth approximately $62,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

United Community Banks Stock Up 0.2%

Shares of NASDAQ UCB traded up $0.06 during mid-day trading on Thursday, reaching $31.33. 160,369 shares of the company were exchanged, compared to its average volume of 711,800. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 15.32 and a beta of 0.83. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The firm has a 50-day moving average of $30.43 and a 200 day moving average of $29.43.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share 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%.The business's revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that United Community Banks, Inc. will post 2.52 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently disclosed 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. This is an increase from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. United Community Banks's dividend payout ratio (DPR) is currently 45.45%.

Insider Buying and Selling at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction dated Monday, July 28th. The stock was 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 directly owned 78,395 shares in the company, valued at approximately $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stephens reissued an "overweight" rating and set a $36.00 target price on shares of United Community Banks in a research report on Wednesday, April 23rd. DA Davidson boosted their target price on United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on 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 boosted their target price on 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 reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, United Community Banks has an average rating of "Hold" and a consensus 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.