GSA Capital Partners LLP Buys Shares of 32,237 United Community Banks, Inc. (NASDAQ:UCB)

Key Points

• GSA Capital Partners LLP has acquired a new position in United Community Banks, purchasing 32,237 shares valued at approximately $907,000 during the first quarter.
• The company recently reported earnings per share (EPS) of $0.66, surpassing analysts' expectations and showing a revenue increase of 6.1% year-over-year.
• United Community Banks declared a quarterly dividend of $0.24, representing an annualized dividend of $0.96 and a dividend yield of 3.2%.

GSA Capital Partners LLP purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 32,237 shares of the company's stock, valued at approximately $907,000.

Other hedge funds have also modified their holdings of the company. Resolute Wealth Strategies LLC acquired a new position in United Community Banks during the first quarter worth $288,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of United Community Banks in the first quarter valued at about $597,000. Integrated Investment Consultants LLC acquired a new stake in shares of United Community Banks in the first quarter valued at about $454,000. HB Wealth Management LLC acquired a new stake in shares of United Community Banks in the first quarter valued at about $507,000. Finally, Keystone Financial Group Inc. acquired a new stake in shares of United Community Banks in the first quarter valued at about $502,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Stock Performance

NASDAQ:UCB opened at $30.46 on Friday. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The firm has a 50 day moving average of $29.96 and a 200-day moving average of $29.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.70 billion, a P/E ratio of 14.93 and a beta of 0.78.

United Community Banks (NASDAQ:UCB - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) 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% on a year-over-year basis. As a group, sell-side analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. United Community Banks's dividend payout ratio (DPR) is currently 43.64%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UCB. Keefe, Bruyette & Woods raised their price target on United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday. DA Davidson raised their price target on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Hovde Group raised their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Stephens restated an "overweight" rating and set a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $34.57.

Insider Buying and Selling at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 78,395 shares of the company's stock, valued at $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.43% of the stock is currently owned by corporate insiders.

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.

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