Fisher Asset Management LLC Has $30.91 Million Stake in United Community Banks, Inc. $UCB

Key Points

• Fisher Asset Management trimmed its United Community Banks stake by 5.5% in the fourth quarter, but still held 990,165 shares worth about $30.9 million. Institutional investors remain heavily involved, owning 82.29% of the stock.
• United Community Banks reported Q1 earnings of $0.70 per share, matching analyst expectations, while revenue rose 11.6% year over year to $278.27 million. The company also guided analysts to expect 2.99 EPS for the full year.
• The bank announced a quarterly dividend of $0.25 per share, equivalent to a 3.0% yield. Meanwhile, analysts are mixed but lean positive, with a Moderate Buy consensus and an average price target of $38.40.

Fisher Asset Management LLC lowered its stake in shares of United Community Banks, Inc. (NYSE:UCB - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 990,165 shares of the company's stock after selling 58,009 shares during the period. Fisher Asset Management LLC owned approximately 0.81% of United Community Banks worth $30,913,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in United Community Banks by 196.1% during the 4th quarter. Covestor Ltd now owns 992 shares of the company's stock valued at $31,000 after purchasing an additional 657 shares during the last quarter. Torren Management LLC acquired a new position in United Community Banks during the 4th quarter valued at about $39,000. First Horizon Corp boosted its stake in shares of United Community Banks by 51.7% in the 4th quarter. First Horizon Corp now owns 1,315 shares of the company's stock worth $41,000 after buying an additional 448 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of United Community Banks by 130.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company's stock worth $58,000 after buying an additional 1,106 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of United Community Banks in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Price Performance

United Community Banks stock opened at $33.57 on Wednesday. United Community Banks, Inc. has a 12 month low of $27.23 and a 12 month high of $36.77. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. The business's 50 day simple moving average is $32.57 and its 200 day simple moving average is $32.51. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 12.34 and a beta of 0.83.

United Community Banks (NYSE:UCB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. United Community Banks had a return on equity of 9.65% and a net margin of 22.05%.The business had revenue of $278.27 million for the quarter. During the same quarter in the previous year, the company posted $0.58 EPS. United Community Banks's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that United Community Banks, Inc. will post 2.99 EPS for the current year.

United Community Banks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 3.0%. United Community Banks's dividend payout ratio is presently 36.76%.

Insider Buying and Selling

In related news, EVP Richard Bradshaw sold 1,510 shares of the company's 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 transaction, the executive vice president owned 84,497 shares in the company, valued at approximately $2,796,005.73. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on United Community Banks from $35.00 to $36.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods upgraded United Community Banks from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $36.00 to $40.00 in a research note on Thursday, April 9th. Wall Street Zen upgraded United Community Banks from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Zacks Research downgraded United Community Banks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Finally, Hovde Group cut their target price on United Community Banks from $38.00 to $37.00 and set a "market perform" rating on the stock in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.40.

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.

Want to see what other hedge funds are holding UCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Community Banks, Inc. (NYSE:UCB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.