Earnest Partners LLC Lowers Stock Holdings in United Community Banks, Inc. $UCB

Key Points

• Earnest Partners LLC reduced its stake in United Community Banks, Inc. by 1.7%, holding approximately 3.45 million shares worth $97.1 million after selling 61,223 shares in the latest quarter.
• In recent insider activity, the EVP Richard Bradshaw sold 1,616 shares, resulting in a 2.02% decrease in his ownership, with his remaining shares valued at about $2.43 million.
• United Community Banks announced an increase in its quarterly dividend to $0.25 per share, reflecting a 3.0% dividend yield, with the ex-dividend date set for September 15th.

Earnest Partners LLC lowered its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,452,736 shares of the company's stock after selling 61,223 shares during the quarter. Earnest Partners LLC owned approximately 2.89% of United Community Banks worth $97,125,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jane Street Group LLC boosted its position in United Community Banks by 655.3% during the first quarter. Jane Street Group LLC now owns 414,225 shares of the company's stock worth $11,652,000 after purchasing an additional 359,386 shares in the last quarter. Synovus Financial Corp boosted its position in United Community Banks by 26.4% during the first quarter. Synovus Financial Corp now owns 34,497 shares of the company's stock worth $970,000 after purchasing an additional 7,201 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of United Community Banks by 671.1% in the first quarter. MetLife Investment Management LLC now owns 556,231 shares of the company's stock valued at $15,647,000 after acquiring an additional 484,094 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in shares of United Community Banks in the first quarter valued at approximately $89,000. Finally, EntryPoint Capital LLC purchased a new position in shares of United Community Banks in the first quarter valued at approximately $480,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of United Community Banks 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 completion of the sale, the executive vice president directly owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.43% of the company's stock.

United Community Banks Stock Performance

Shares of United Community Banks stock opened at $33.16 on Wednesday. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. 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 market cap of $4.03 billion, a price-to-earnings ratio of 16.25 and a beta of 0.83. The business's 50 day moving average price is $30.77 and its 200 day moving average price is $29.36.

United Community Banks (NASDAQ:UCB - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.66 EPS for the quarter, beating 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 firm's revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. United Community Banks's payout ratio is presently 45.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UCB shares. Keefe, Bruyette & Woods raised 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. DA Davidson raised 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. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Finally, Hovde Group raised 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. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, United Community Banks presently has an average rating of "Hold" and a consensus 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.

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