Everhart Financial Group Inc. Invests $468,000 in United Community Banks, Inc. (NASDAQ:UCB)

Everhart Financial Group Inc. acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,626 shares of the company's stock, valued at approximately $468,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in United Community Banks in the fourth quarter valued at approximately $508,000. Quantinno Capital Management LP acquired a new position in shares of United Community Banks in the fourth quarter valued at $3,191,000. Focus Partners Wealth acquired a new stake in shares of United Community Banks during the 4th quarter worth about $308,000. Cetera Investment Advisers bought a new stake in shares of United Community Banks during the 4th quarter worth about $329,000. Finally, California State Teachers Retirement System acquired a new position in United Community Banks in the 4th quarter valued at about $3,602,000. 82.29% of the stock is owned by institutional investors.

United Community Banks Price Performance

Shares of UCB traded down $0.95 during mid-day trading on Friday, reaching $28.16. The company had a trading volume of 869,740 shares, compared to its average volume of 661,796. The company's 50 day simple moving average is $27.58 and its 200 day simple moving average is $30.16. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-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.

United Community Banks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Sunday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 13th. United Community Banks's dividend payout ratio is currently 45.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Hovde Group upgraded United Community Banks from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $32.00 to $31.00 in a report on Monday, April 7th. Stephens reiterated an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their target price on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Finally, DA Davidson decreased their price target on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.14.

United Community Banks Company 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.