Keystone Financial Group Inc. Takes $502,000 Position in United Community Banks, Inc. (NASDAQ:UCB)

Key Points

• Keystone Financial Group Inc. acquired a new $502,000 position in United Community Banks, Inc. by purchasing 18,043 shares, marking a significant investment in the company.
• The stock of United Community Banks is currently priced at $31.32, down 1.9%, with a market capitalization of $3.81 billion and a twelve-month high of $35.38.
• United Community Banks recently declared a quarterly dividend of $0.24 per share, translating to an annual yield of 3.06% and a payout ratio of 45.50%.

Keystone Financial Group Inc. acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,043 shares of the company's stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of UCB. Nomura Asset Management Co. Ltd. purchased a new position in shares of United Community Banks during the fourth quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in United Community Banks in the first quarter worth about $37,000. Public Employees Retirement System of Ohio purchased a new stake in United Community Banks in the fourth quarter worth about $42,000. Quadrant Capital Group LLC purchased a new stake in United Community Banks in the fourth quarter worth about $45,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in United Community Banks in the first quarter worth about $45,000. 82.29% of the stock is owned by institutional investors.

United Community Banks Stock Down 1.9%

Shares of United Community Banks stock opened at $31.32 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 15.35 and a beta of 0.78. The company's 50 day moving average is $29.77 and its 200 day moving average is $29.63. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month 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.

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

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Sunday, June 15th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.06%. United Community Banks's payout ratio is presently 45.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Stephens restated an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price objective on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Hovde Group upped their price objective on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, DA Davidson upped their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $34.29.

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.

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