New York State Common Retirement Fund Makes New Investment in United Community Banks, Inc. (NASDAQ:UCB)

New York State Common Retirement Fund purchased a new position in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 37,080 shares of the company's stock, valued at approximately $1,043,000.

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

United Community Banks Stock Up 0.6%

NASDAQ UCB traded up $0.18 during trading on Friday, hitting $31.55. The company's stock had a trading volume of 805,838 shares, compared to its average volume of 731,105. United Community Banks, Inc. has a fifty-two week low of $22.93 and a fifty-two week high of $35.38. The business's 50 day simple moving average is $29.77 and its 200-day simple moving average is $29.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $3.83 billion, a PE ratio of 15.46 and a beta of 0.78.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, beating 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%. United Community Banks's revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's payout ratio is currently 45.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of United Community Banks in a research note on Wednesday, April 23rd. DA Davidson raised their price objective on United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday. 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 cut their target price on United Community Banks from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Hovde Group raised their target price on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $34.29.

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.