United Community Banks, Inc. $UCB Shares Purchased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC significantly increased its stake in United Community Banks, Inc. by 671.1%, now owning approximately 0.47% of the company, valued at about $15.6 million.
• United Community Banks recently announced a quarterly dividend of $0.25 per share, reflecting an increase from the previous dividend, resulting in an annualized yield of 3.0%.
• Analysts have set new price targets for United Community Banks, with a consensus price target of $34.57 and several firms issuing "buy" ratings following their performance in earnings reports.

MetLife Investment Management LLC boosted its stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 671.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,231 shares of the company's stock after buying an additional 484,094 shares during the quarter. MetLife Investment Management LLC owned approximately 0.47% of United Community Banks worth $15,647,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UCB. Earnest Partners LLC purchased a new stake in shares of United Community Banks during the 4th quarter valued at approximately $113,536,000. Charles Schwab Investment Management Inc. acquired a new position in shares of United Community Banks in the first quarter worth $40,871,000. Northern Trust Corp acquired a new position in shares of United Community Banks in the fourth quarter worth $45,527,000. Bank of New York Mellon Corp acquired a new position in shares of United Community Banks in the first quarter worth $34,780,000. Finally, Systematic Financial Management LP acquired a new position in shares of United Community Banks in the fourth quarter worth $29,069,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

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 on Monday, July 28th. The shares were sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the transaction, the executive vice president 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 legal filing with the SEC, which is available at this hyperlink. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on UCB. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. DA Davidson boosted their target price on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Hovde Group boosted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, United Community Banks currently has an average rating of "Hold" and a consensus price target of $34.57.

United Community Banks Stock Down 0.3%

Shares of UCB stock traded down $0.09 on Friday, reaching $33.41. 663,714 shares of the stock were exchanged, compared to its average volume of 709,819. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The business's 50 day moving average price is $31.11 and its 200 day moving average price is $29.36. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 16.38 and a beta of 0.83. United Community Banks, Inc. has a twelve month low of $22.93 and a twelve month high of $35.38.

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 analysts' consensus estimates 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. As a group, sell-side analysts expect that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. This is a boost from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. United Community Banks's payout ratio is currently 45.45%.

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.