HB Wealth Management LLC Invests $507,000 in United Community Banks, Inc. (NASDAQ:UCB)

Key Points

• HB Wealth Management LLC invested approximately $507,000 in United Community Banks, Inc., acquiring 18,030 shares during the first quarter.
• United Community Banks recently declared a quarterly dividend of $0.24 per share, representing an annualized dividend of $0.96 and a dividend yield of 3.2%.
• The company's stock currently has a 52-week high of $35.38 and a low of $22.93, with a market capitalization of $3.70 billion.

HB Wealth Management LLC acquired a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,030 shares of the company's stock, valued at approximately $507,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Xponance Inc. increased its stake in shares of United Community Banks by 5.8% in the first quarter. Xponance Inc. now owns 9,094 shares of the company's stock worth $256,000 after acquiring an additional 500 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in United Community Banks during the fourth quarter valued at $31,000. Public Employees Retirement System of Ohio acquired a new stake in United Community Banks during the fourth quarter valued at $42,000. Versant Capital Management Inc acquired a new stake in United Community Banks during the first quarter valued at $37,000. Finally, Quadrant Capital Group LLC acquired a new stake in United Community Banks during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Stock Down 1.0%

Shares of NASDAQ UCB opened at $30.46 on Friday. The company's 50-day simple moving average is $29.96 and its 200-day simple moving average is $29.64. United Community Banks, Inc. has a 52-week low of $22.93 and a 52-week high of $35.38. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 14.93 and a beta of 0.78. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. United Community Banks had a net margin of 16.48% and a return on equity of 8.64%. United Community Banks's revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.94, for a total value of $49,999.04. Following the transaction, the executive vice president directly owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.43% of the company's stock.

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.

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