Intech Investment Management LLC Grows Stake in United Community Banks, Inc. $UCB

Key Points

• Intech Investment Management LLC raised its stake in United Community Banks, Inc. by 17.8%, owning 152,953 shares valued at approximately $4.3 million as of the latest reporting period.
• United Community Banks announced a quarterly dividend of $0.25, up from $0.24, representing an annualized yield of 3.1%, to be paid on October 3rd.
• The company's stock traded down 1.0%, with a market capitalization of $3.93 billion and a P/E ratio of 15.85, following recent positive earnings results that beat analysts' expectations.

Intech Investment Management LLC boosted its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,953 shares of the company's stock after purchasing an additional 23,156 shares during the quarter. Intech Investment Management LLC owned about 0.13% of United Community Banks worth $4,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in United Community Banks in the first quarter worth $26,000. Versant Capital Management Inc bought a new position in United Community Banks in the 1st quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new position in shares of United Community Banks in the fourth quarter worth about $42,000. MassMutual Private Wealth & Trust FSB bought a new position in United Community Banks in the first quarter worth approximately $45,000. Finally, CWM LLC bought a new position in United Community Banks during the 1st quarter worth about $62,000. 82.29% of the stock is currently owned by institutional investors.

United Community Banks Stock Up 2.4%

UCB traded up $0.77 on Thursday, reaching $32.33. The company's stock had a trading volume of 249,726 shares, compared to its average volume of 692,367. The stock has a 50 day moving average of $31.66 and a two-hundred day moving average of $29.39. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 15.85 and a beta of 0.86.

United Community Banks (NASDAQ:UCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, beating 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 firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's dividend payout ratio is currently 45.45%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UCB. Hovde Group raised their price objective on United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. DA Davidson raised their price objective on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, United Community Banks presently has an average rating of "Hold" and a consensus target price of $34.57.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $30.94, for a total value of $49,999.04. Following the sale, the executive vice president owned 78,395 shares of the company's stock, valued at approximately $2,425,541.30. This represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.43% of the company's stock.

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.