Nuveen LLC Purchases New Position in United Community Banks, Inc. $UCB

Key Points

• Nuveen LLC has acquired a new stake in United Community Banks, purchasing 319,166 shares valued at approximately $8.98 million, representing about 0.27% of the company's stock.
• The company recently increased its quarterly dividend from $0.24 to $0.25 per share, which translates to an annual yield of 3.0%.
• Analysts have generally maintained a positive outlook on United Community Banks, with recent upgrades from several firms, raising the price targets to around $34 to $36.

Nuveen LLC purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 319,166 shares of the company's stock, valued at approximately $8,978,000. Nuveen LLC owned approximately 0.27% of United Community Banks at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of UCB. First Trust Advisors LP acquired a new stake in United Community Banks in the 4th quarter valued at $2,896,000. MetLife Investment Management LLC acquired a new stake in United Community Banks in the 4th quarter valued at $2,331,000. Teachers Retirement System of The State of Kentucky acquired a new stake in United Community Banks in the 4th quarter valued at $1,091,000. Tower Research Capital LLC TRC acquired a new stake in United Community Banks in the 4th quarter valued at $59,000. Finally, State of Tennessee Department of Treasury acquired a new stake in United Community Banks in the 4th quarter valued at $1,092,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Ratings Changes

UCB has been the topic of several recent analyst reports. 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. Hovde Group boosted their price objective on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. DA Davidson boosted their price objective on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, United Community Banks has an average rating of "Hold" and a consensus target price of $34.57.

United Community Banks Price Performance

United Community Banks stock opened at $32.8090 on Friday. 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 cap of $3.99 billion, a P/E ratio of 16.08 and a beta of 0.83. The business's fifty day moving average is $30.56 and its two-hundred day moving average is $29.38. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a return on equity of 8.64% and a net margin of 16.48%.The business's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This is an increase from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. United Community Banks's dividend payout ratio is presently 45.45%.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the sale, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.43% of the stock is currently owned by insiders.

About United Community Banks

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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