HighTower Advisors LLC Makes New $1.73 Million Investment in United Community Banks, Inc. $UCB

Key Points

• HighTower Advisors LLC acquired a new stake in United Community Banks, purchasing 61,421 shares valued at approximately $1.73 million, bringing their ownership to 0.05%.
• United Community Banks has recently increased its quarterly dividend from $0.24 to $0.25 per share, reflecting an annualized yield of 3.0%.
• Several analysts have raised their price targets for United Community Banks, with the average target now at $34.57 and a consensus "Hold" rating.

HighTower Advisors LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,421 shares of the company's stock, valued at approximately $1,728,000. HighTower Advisors LLC owned approximately 0.05% of United Community Banks as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. M&T Bank Corp bought a new stake in shares of United Community Banks during the first quarter worth $926,000. Amalgamated Bank bought a new stake in shares of United Community Banks during the first quarter worth $957,000. Principal Financial Group Inc. bought a new stake in shares of United Community Banks during the first quarter worth $16,721,000. GAMMA Investing LLC bought a new stake in shares of United Community Banks during the first quarter worth $132,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of United Community Banks during the first quarter worth $460,000. Institutional investors own 82.29% of the company's stock.

Insiders Place Their Bets

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the business'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 transaction of $49,999.04. Following the sale, the executive vice president directly owned 78,395 shares of the company's stock, valued at $2,425,541.30. The trade was a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.43% of the stock is owned by insiders.

United Community Banks Price Performance

Shares of NASDAQ:UCB traded down $0.09 during midday trading on Friday, hitting $33.41. The stock had a trading volume of 663,714 shares, compared to its average volume of 709,819. The company's 50-day moving average price is $31.11 and its 200-day moving average price is $29.36. The company has a market capitalization of $4.06 billion, a P/E ratio of 16.38 and a beta of 0.83. 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, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38.

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

United Community Banks Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on UCB shares. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price 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, July 28th. DA Davidson raised their target price 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. Finally, Hovde Group raised 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. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $34.57.

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.