Dimensional Fund Advisors LP Acquires 182,397 Shares of United Community Banks, Inc. $UCB

Key Points

• Dimensional Fund Advisors boosted its stake in United Community Banks by 2.9% in the first quarter, buying 182,397 additional shares and bringing its total holding to 6.52 million shares worth about $205.3 million.
• Analyst sentiment remains mixed but generally positive, with the stock carrying an average “Moderate Buy” rating and a consensus price target of $38.80; TD Cowen recently upgraded UCB to Strong Buy while one firm cut it to Sell.
• United Community Banks reported Q2 earnings of $0.71 per share, missing expectations of $0.80, and also paid a quarterly dividend of $0.25 per share for a 2.8% annualized yield.

Dimensional Fund Advisors LP increased its holdings in United Community Banks, Inc. (NYSE:UCB - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,520,132 shares of the company's stock after purchasing an additional 182,397 shares during the period. Dimensional Fund Advisors LP owned approximately 5.45% of United Community Banks worth $205,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Community Banks in the 4th quarter valued at $29,000. Covestor Ltd increased its position in United Community Banks by 196.1% in the fourth quarter. Covestor Ltd now owns 992 shares of the company's stock worth $31,000 after purchasing an additional 657 shares during the period. Torren Management LLC bought a new stake in United Community Banks during the 4th quarter worth about $39,000. First Horizon Corp lifted its position in United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company's stock valued at $41,000 after purchasing an additional 448 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in United Community Banks during the 4th quarter valued at about $42,000. Institutional investors own 82.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on UCB shares. Piper Sandler restated a "neutral" rating and issued a $37.00 price objective on shares of United Community Banks in a report on Wednesday. Stephens lifted their target price on shares of United Community Banks from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. DA Davidson reiterated a "buy" rating and set a $40.00 target price on shares of United Community Banks in a research report on Wednesday. TD Cowen raised United Community Banks to a "strong-buy" rating in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered United Community Banks from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.80.

Insider Activity

In related news, EVP Richard Bradshaw sold 1,510 shares of United Community Banks stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $33.09, for a total value of $49,965.90. Following the sale, the executive vice president owned 84,497 shares of the company's stock, valued at approximately $2,796,005.73. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.45% of the company's stock.

United Community Banks Price Performance

NYSE UCB opened at $35.19 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 11.58 and a beta of 0.81. The business has a 50 day simple moving average of $34.26 and a 200 day simple moving average of $33.49. United Community Banks, Inc. has a 52-week low of $28.65 and a 52-week high of $37.18.

United Community Banks (NYSE:UCB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. The company had revenue of $279.28 million during the quarter. Analysts anticipate that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Monday, June 15th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. United Community Banks's dividend payout ratio (DPR) is presently 32.89%.

About United Community Banks

United Community Banks, Inc NYSE: UCB is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company's core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.

In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.

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