Jane Street Group LLC Grows Stock Holdings in United Community Banks, Inc. $UCB

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 boosted its position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 655.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 414,225 shares of the company's stock after purchasing an additional 359,386 shares during the period. Jane Street Group LLC owned about 0.35% of United Community Banks worth $11,652,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of UCB. First Trust Advisors LP acquired a new stake in United Community Banks in the 4th quarter valued at about $2,896,000. Tower Research Capital LLC TRC acquired a new stake in United Community Banks during the fourth quarter worth approximately $59,000. Stifel Financial Corp acquired a new stake in United Community Banks during the fourth quarter worth approximately $1,306,000. Hsbc Holdings PLC acquired a new stake in United Community Banks during the fourth quarter worth approximately $451,000. Finally, Susquehanna International Group LLP acquired a new stake in United Community Banks during the fourth quarter worth approximately $2,450,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Community Banks

In other United Community Banks 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.43% of the stock is currently owned by insiders.

United Community Banks Stock Performance

NASDAQ:UCB traded down $0.12 during trading hours on Friday, reaching $33.47. The stock had a trading volume of 96,041 shares, compared to its average volume of 700,629. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38. The stock has a market cap of $4.07 billion, a P/E ratio of 16.40 and a beta of 0.86. 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 stock has a 50 day simple moving average of $31.44 and a 200 day simple moving average of $29.38.

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 (EPS) 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 business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, research 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 declared 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 of this dividend is Monday, September 15th. This is an increase from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. United Community Banks's payout ratio is currently 45.45%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UCB shares. DA Davidson raised their price objective on shares of 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 restated a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted 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 report on Monday, July 28th. Finally, Hovde Group lifted 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 report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, United Community Banks has a consensus rating of "Hold" and a consensus price target 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.