United Community Banks, Inc. $UCB Shares Acquired by Jane Street Group LLC

Key Points

• Jane Street Group LLC significantly increased its stake in United Community Banks, Inc. by 655.3% during the first quarter, now holding approximately 0.35% of the company valued at $11.65 million.
• Analysts have raised their price targets for United Community Banks with a majority rating of "Hold" and a consensus price target of $34.57.
• United Community Banks announced an increase in its quarterly dividend to $0.25 per share, reflecting a yield of 3.0% and a payout ratio of 45.45%.

Jane Street Group LLC increased its position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 655.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 414,225 shares of the company's stock after buying an additional 359,386 shares during the period. Jane Street Group LLC owned about 0.35% of United Community Banks worth $11,652,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks during the fourth quarter worth approximately $42,000. Versant Capital Management Inc purchased a new position in United Community Banks in the first quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB purchased a new position in United Community Banks in the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC purchased a new position in United Community Banks in the fourth quarter valued at approximately $59,000. Finally, CWM LLC purchased a new position in United Community Banks in the first quarter valued at approximately $62,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Hovde Group increased their price target on shares of United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods increased 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 note on Monday, July 28th. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, DA Davidson increased 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 note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $34.57.

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 sale, the executive vice president directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company's stock.

United Community Banks Stock Performance

Shares of NASDAQ UCB traded down $0.30 during mid-day trading on Tuesday, hitting $33.10. 474,669 shares of the company were exchanged, compared to its average volume of 708,402. United Community Banks, Inc. has a 1-year low of $22.93 and a 1-year 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 stock has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $29.35. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 16.23 and a beta of 0.86.

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, topping 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 business's revenue was up 6.1% on a year-over-year basis. On average, sell-side 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. Shareholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's payout ratio is presently 45.45%.

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.