Cubist Systematic Strategies LLC Takes Position in United Community Banks, Inc. $UCB

Key Points

• Cubist Systematic Strategies LLC recently acquired 77,930 shares of United Community Banks, Inc. (NASDAQ: UCB), valued at approximately $2.19 million, increasing their ownership to 0.07% of the company.
• Several analysts have recently raised their price targets for UCB, with DA Davidson and Hovde Group setting new price targets of $36.00 while maintaining a "buy" or "outperform" rating.
• United Community Banks announced an increase in its quarterly dividend from $0.24 to $0.25, representing a 3.0% dividend yield, with the dividend payment scheduled for October 3rd.

Cubist Systematic Strategies LLC bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 77,930 shares of the company's stock, valued at approximately $2,192,000. Cubist Systematic Strategies LLC owned about 0.07% of United Community Banks as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in United Community Banks by 7.0% during the first quarter. Royal Bank of Canada now owns 55,319 shares of the company's stock worth $1,557,000 after acquiring an additional 3,617 shares during the last quarter. Quarry LP acquired a new stake in shares of United Community Banks in the first quarter valued at $26,000. State of Wyoming grew its stake in shares of United Community Banks by 9.4% in the first quarter. State of Wyoming now owns 4,010 shares of the company's stock valued at $113,000 after buying an additional 344 shares in the last quarter. Jane Street Group LLC grew its stake in shares of United Community Banks by 655.3% in the first quarter. Jane Street Group LLC now owns 414,225 shares of the company's stock valued at $11,652,000 after buying an additional 359,386 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in shares of United Community Banks by 26.4% in the first quarter. Synovus Financial Corp now owns 34,497 shares of the company's stock valued at $970,000 after buying an additional 7,201 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Transactions at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the sale, the executive vice president directly owned 78,395 shares of the company's stock, valued at $2,425,541.30. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

United Community Banks Stock Down 1.0%

NASDAQ UCB traded down $0.32 during trading on Friday, reaching $32.34. 624,720 shares of the company's stock were exchanged, compared to its average volume of 696,556. The stock has a market cap of $3.93 billion, a P/E ratio of 15.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average price of $31.66 and a two-hundred day moving average price of $29.40. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 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 earnings per share (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%.The company's revenue 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 fiscal year.

United Community Banks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This is a positive change 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 3.1%. United Community Banks's dividend payout ratio (DPR) is presently 45.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price objective on United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price objective on United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Hovde Group lifted their price objective on United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, United Community Banks presently has a consensus rating of "Hold" and a consensus 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.