Nuveen LLC Makes New Investment 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 acquired a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 319,166 shares of the company's stock, valued at approximately $8,978,000. Nuveen LLC owned about 0.27% of United Community Banks at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Earnest Partners LLC bought a new stake in United Community Banks during the 4th quarter valued at $113,536,000. Charles Schwab Investment Management Inc. bought a new stake in United Community Banks during the 1st quarter valued at $40,871,000. Northern Trust Corp bought a new stake in United Community Banks during the 4th quarter valued at $45,527,000. Bank of New York Mellon Corp bought a new stake in United Community Banks during the 1st quarter valued at $34,780,000. Finally, Systematic Financial Management LP bought a new stake in United Community Banks during the 4th quarter valued at $29,069,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Analysts Set New Price Targets

UCB has been the topic of a number of analyst reports. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. DA Davidson upped their price target on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Hovde Group upped their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $34.57.

Insider Buying and Selling at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were 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 of the company's stock, valued at $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.43% of the company's stock.

United Community Banks Trading Down 0.3%

Shares of United Community Banks stock traded down $0.09 during trading 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 quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average is $31.11 and its 200 day moving average is $29.38. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 16.38 and a beta of 0.83. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 EPS 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%. The firm's revenue was up 6.1% on a year-over-year basis. As a group, equities research 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. This is a boost from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date is Monday, September 15th. United Community Banks's dividend payout ratio (DPR) is 45.45%.

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.