HighTower Advisors LLC Makes New 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 purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 61,421 shares of the company's stock, valued at approximately $1,728,000. HighTower Advisors LLC owned about 0.05% of United Community Banks as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of United Community Banks in the first quarter worth about $37,000. Public Employees Retirement System of Ohio bought a new stake in shares of United Community Banks during the fourth quarter worth $42,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of United Community Banks during the first quarter worth $45,000. Tower Research Capital LLC TRC bought a new stake in shares of United Community Banks during the fourth quarter worth $59,000. Finally, CWM LLC bought a new stake in United Community Banks during the 1st quarter worth about $62,000. 82.29% of the stock is owned by institutional investors.

Insider Activity at United Community Banks

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 78,395 shares in the company, valued at approximately $2,425,541.30. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.43% of the stock is currently owned by corporate insiders.

United Community Banks Price Performance

Shares of UCB stock traded up $0.58 during trading on Wednesday, hitting $33.70. The company had a trading volume of 619,822 shares, compared to its average volume of 711,792. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $4.09 billion, a P/E ratio of 16.52 and a beta of 0.83. The stock's 50-day moving average price is $30.89 and its 200 day moving average price is $29.39. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

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

United Community Banks Increases Dividend

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

Analyst Ratings Changes

UCB has been the subject of several recent research reports. Keefe, Bruyette & Woods upped 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. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Hovde Group raised their price target on United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, DA Davidson lifted their price target on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to 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.