Louisiana State Employees Retirement System Acquires New Holdings in United Community Banks, Inc. (NASDAQ:UCB)

Louisiana State Employees Retirement System bought a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,200 shares of the company's stock, valued at approximately $1,581,000.

Other large investors have also modified their holdings of the company. M&T Bank Corp purchased a new position in shares of United Community Banks in the 1st quarter valued at about $926,000. Amalgamated Bank purchased a new position in shares of United Community Banks in the 1st quarter valued at about $957,000. Principal Financial Group Inc. purchased a new position in shares of United Community Banks in the 1st quarter valued at about $16,721,000. GAMMA Investing LLC purchased a new position in shares of United Community Banks in the 1st quarter valued at about $132,000. Finally, New York State Teachers Retirement System purchased a new position in United Community Banks during the 1st quarter valued at about $2,897,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Stock Performance

Shares of UCB traded down $0.02 during mid-day trading on Friday, hitting $31.70. The company's stock had a trading volume of 756,713 shares, compared to its average volume of 663,374. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38. 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 firm has a market capitalization of $3.85 billion, a PE ratio of 15.54 and a beta of 0.78. The stock's 50-day moving average is $29.63 and its two-hundred day moving average is $29.62.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.03%. United Community Banks's dividend payout ratio (DPR) is currently 45.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on UCB shares. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods reduced their price target on shares of United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. DA Davidson dropped their price objective on shares of United Community Banks from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research note on Wednesday, April 23rd. Finally, Hovde Group upgraded shares of United Community Banks from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $32.00 to $31.00 in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, United Community Banks has an average rating of "Hold" and a consensus price target of $33.14.

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.