Invesco Ltd. Purchases 59,902 Shares of United Community Banks, Inc. $UCB

Key Points

• Invesco Ltd. increased its stake in United Community Banks, purchasing an additional 59,902 shares, bringing its total ownership to approximately 1.27% of the company's stock.
• United Community Banks recently announced a $0.25 quarterly dividend, an increase from its previous dividend of $0.24, resulting in an annualized yield of 3.2%.
• Wall Street analysts have raised their price targets for United Community Banks, with several firms now setting a target price of $36.00 and maintaining a general "buy" rating.

Invesco Ltd. boosted its position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,513,333 shares of the company's stock after buying an additional 59,902 shares during the period. Invesco Ltd. owned approximately 1.27% of United Community Banks worth $42,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UCB. Versant Capital Management Inc bought a new stake in United Community Banks during the 1st quarter worth approximately $37,000. Public Employees Retirement System of Ohio bought a new stake in United Community Banks during the 4th quarter worth approximately $42,000. MassMutual Private Wealth & Trust FSB bought a new stake in United Community Banks during the 1st quarter worth approximately $45,000. Tower Research Capital LLC TRC bought a new stake in United Community Banks during the 4th quarter worth approximately $59,000. Finally, CWM LLC bought a new stake in United Community Banks during the 1st quarter worth approximately $62,000. 82.29% of the stock is owned by institutional investors.

Insider Buying and Selling

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 transaction, the executive vice president owned 78,395 shares in the company, valued at approximately $2,425,541.30. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company's stock.

United Community Banks Price Performance

Shares of NASDAQ UCB opened at $31.23 on Tuesday. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38. The stock's 50 day moving average price is $30.36 and its 200-day moving average price is $29.40. The company has a market capitalization of $3.79 billion, a PE ratio of 15.31 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 (NASDAQ:UCB - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates 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 was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current year.

United Community Banks Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, September 15th. 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 yield of 3.2%. United Community Banks's dividend payout ratio (DPR) is currently 45.45%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UCB shares. DA Davidson boosted their price objective on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Stephens reissued an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Hovde Group boosted their price objective on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.

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