Susquehanna International Group LLP decreased its holdings in shares of United Community Banks, Inc. (NYSE:UCB - Free Report) by 74.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,731 shares of the company's stock after selling 67,890 shares during the period. Susquehanna International Group LLP's holdings in United Community Banks were worth $833,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of United Community Banks in the 2nd quarter valued at $55,195,000. Norges Bank acquired a new position in shares of United Community Banks in the 4th quarter valued at approximately $48,450,000. Vaughan Nelson Investment Management L.P. bought a new stake in United Community Banks during the 1st quarter worth approximately $34,183,000. Goldman Sachs Group Inc. raised its holdings in United Community Banks by 70.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,380,627 shares of the company's stock worth $43,103,000 after buying an additional 571,296 shares during the period. Finally, Wellington Management Group LLP lifted its stake in United Community Banks by 125.7% in the third quarter. Wellington Management Group LLP now owns 774,660 shares of the company's stock valued at $24,286,000 after buying an additional 431,491 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on UCB. Piper Sandler reissued a "neutral" rating and set a $37.00 price objective on shares of United Community Banks in a research report on Wednesday, July 22nd. TD Cowen raised United Community Banks to a "strong-buy" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded United Community Banks from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 30th. DA Davidson reiterated a "buy" rating and issued a $40.00 price objective on shares of United Community Banks in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of United Community Banks from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.
Check Out Our Latest Stock Analysis on United Community Banks
United Community Banks Price Performance
UCB stock opened at $34.84 on Tuesday. The company's 50-day moving average price is $35.58 and its two-hundred day moving average price is $33.77. The firm has a market cap of $4.20 billion, a P/E ratio of 11.46 and a beta of 0.82. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.18.
United Community Banks (NYSE:UCB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $279.28 million during the quarter. United Community Banks had a net margin of 24.43% and a return on equity of 9.61%. On average, analysts anticipate that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.
United Community Banks Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th will be paid a $0.26 dividend. This is an increase from United Community Banks's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. United Community Banks's payout ratio is currently 32.89%.
Insiders Place Their Bets
In related news, EVP Richard Bradshaw sold 1,424 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $35.09, for a total value of $49,968.16. Following the sale, the executive vice president owned 83,228 shares of the company's stock, valued at $2,920,470.52. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jefferson L. Harralson sold 25,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $35.41, for a total value of $885,250.00. Following the transaction, the executive vice president directly owned 37,433 shares of the company's stock, valued at approximately $1,325,502.53. This represents a 40.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is currently owned by insiders.
United Community Banks Profile
(
Free Report)
United Community Banks, Inc NYSE: UCB is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company's core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.
In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.
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