Curi RMB Capital LLC Makes New Investment in United Community Banks, Inc. $UCB

Key Points

• Curi RMB Capital LLC invested $352,000 in United Community Banks, Inc., acquiring 12,500 shares, indicating institutional interest in the company.
• United Community Banks announced a quarterly dividend of $0.25 per share, which marks an increase from the previous quarter's dividend of $0.24, with a current dividend yield of 3.0%.
• The company reported earnings per share of $0.66 for the last quarter, surpassing expectations, and analysts project an annual EPS of 2.52 for the current fiscal year.

Curi RMB Capital LLC acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,500 shares of the company's stock, valued at approximately $352,000.

A number of other hedge funds also recently made changes to their positions in the company. M&T Bank Corp purchased a new position in shares of United Community Banks in the first quarter valued at $926,000. Amalgamated Bank purchased a new position in United Community Banks in the 1st quarter valued at about $957,000. Principal Financial Group Inc. purchased a new position in United Community Banks in the 1st quarter valued at about $16,721,000. GAMMA Investing LLC purchased a new position in United Community Banks in the first quarter valued at about $132,000. Finally, PNC Financial Services Group Inc. purchased a new position in United Community Banks in the first quarter valued at about $460,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Performance

Shares of NASDAQ UCB traded down $0.32 during trading on Friday, reaching $32.34. The stock had a trading volume of 624,720 shares, compared to its average volume of 696,556. 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 stock has a market cap of $3.93 billion, a PE ratio of 15.85 and a beta of 0.86. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. The firm's 50 day moving average price is $31.66 and its two-hundred day moving average price is $29.40.

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

United Community Banks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a $0.25 dividend. 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 yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. United Community Banks's dividend payout ratio is 45.45%.

Insider Activity

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total value of $49,999.04. Following the sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UCB. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Hovde Group lifted their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped 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 report on Monday, July 28th. Finally, DA Davidson raised their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $34.57.

United Community Banks 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.