Curi RMB Capital LLC Invests $352,000 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 purchased a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,500 shares of the company's stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in United Community Banks during the first quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of United Community Banks in the fourth quarter valued at approximately $42,000. Versant Capital Management Inc acquired a new stake in shares of United Community Banks in the first quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB bought a new position in United Community Banks in the first quarter valued at approximately $45,000. Finally, Tower Research Capital LLC TRC bought a new position in United Community Banks in the fourth quarter valued at approximately $59,000. Institutional investors own 82.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UCB shares. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. DA Davidson lifted their price target on shares of 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 boosted their price objective on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Finally, Hovde Group lifted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $34.57.

United Community Banks Trading Down 0.3%

Shares of UCB traded down $0.09 during trading hours on Wednesday, hitting $32.53. 446,546 shares of the stock were exchanged, compared to its average volume of 698,300. 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 firm has a market capitalization of $3.95 billion, a P/E ratio of 15.94 and a beta of 0.86. The business has a 50-day moving average of $31.61 and a 200-day moving average of $29.36. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share 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%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that United Community Banks, Inc. will post 2.52 EPS 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. Shareholders of record on Monday, September 15th will be given a $0.25 dividend. This is a positive change from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. 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 United Community Banks 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 transaction, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

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.