Jane Street Group LLC Raises Position in United Community Banks, Inc. $UCB

Key Points

• Jane Street Group LLC significantly increased its stake in United Community Banks by 655.3% in the first quarter, now owning approximately 414,225 shares valued at $11.65 million.
• United Community Banks recently announced a quarterly dividend increase from $0.24 to $0.25 per share, with a yield of 3.2% and a payout ratio of 45.45%.
• Analysts have mixed opinions on United Community Banks, with three rating the stock as a Buy and four as a Hold, while the average target price is set at $34.57.

Jane Street Group LLC boosted its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 655.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,225 shares of the company's stock after acquiring an additional 359,386 shares during the period. Jane Street Group LLC owned approximately 0.35% of United Community Banks worth $11,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UCB. Quarry LP bought a new position in United Community Banks during the first quarter worth about $26,000. Versant Capital Management Inc acquired a new stake in shares of United Community Banks in the 1st quarter valued at about $37,000. Public Employees Retirement System of Ohio acquired a new stake in shares of United Community Banks in the 4th quarter valued at about $42,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of United Community Banks in the 1st quarter valued at about $45,000. Finally, CWM LLC acquired a new stake in shares of United Community Banks in the first quarter valued at about $62,000. 82.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UCB shares. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Hovde Group boosted 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. Keefe, Bruyette & Woods boosted their price target on 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. Finally, DA Davidson boosted their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $34.57.

United Community Banks Price Performance

Shares of NASDAQ:UCB traded down $0.23 during trading on Friday, hitting $32.16. 1,728,159 shares of the company were exchanged, compared to its average volume of 701,752. The business's 50 day moving average is $31.70 and its 200-day moving average is $29.41. The company has a market capitalization of $3.91 billion, a P/E ratio of 15.77 and a beta of 0.86. 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, Inc. has a 1-year low of $22.93 and a 1-year high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (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 for the quarter was up 6.1% on a year-over-year basis. Equities analysts forecast that United Community Banks, Inc. will post 2.52 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued 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 dividend on an annualized basis and a yield of 3.1%. United Community Banks's dividend payout ratio (DPR) is currently 45.45%.

Insiders Place Their Bets

In related news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 78,395 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.43% of the stock is owned by insiders.

United Community Banks 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.