United Community Banks, Inc. $UCB Holdings Raised by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in United Community Banks by 8.6% in the first quarter, ending with 1.32 million shares valued at about $41.4 million.
• Analyst sentiment remains constructive: TD Cowen upgraded UCB to strong-buy, and the consensus rating is Moderate Buy with an average price target of $38.80.
• United Community Banks reported Q2 EPS of $0.71, missing estimates of $0.80, though the stock still carries a 2.8% dividend yield and traded near $35.19.

Bank of New York Mellon Corp increased its stake in United Community Banks, Inc. (NYSE:UCB - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,316,251 shares of the company's stock after purchasing an additional 103,891 shares during the quarter. Bank of New York Mellon Corp owned about 1.10% of United Community Banks worth $41,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of United Community Banks during the fourth quarter valued at approximately $29,000. Covestor Ltd boosted its stake in United Community Banks by 196.1% during the 4th quarter. Covestor Ltd now owns 992 shares of the company's stock valued at $31,000 after purchasing an additional 657 shares in the last quarter. Torren Management LLC bought a new position in United Community Banks during the 4th quarter valued at $39,000. First Horizon Corp increased its position in shares of United Community Banks by 51.7% during the 4th quarter. First Horizon Corp now owns 1,315 shares of the company's stock valued at $41,000 after purchasing an additional 448 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of United Community Banks during the 4th quarter valued at $42,000. Institutional investors own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UCB. TD Cowen upgraded shares of United Community Banks to a "strong-buy" rating in a research report on Thursday, July 16th. DA Davidson reissued a "buy" rating and set a $40.00 target price on shares of United Community Banks in a research note on Wednesday. Piper Sandler restated a "neutral" rating and set a $37.00 target price on shares of United Community Banks in a report on Wednesday. Stephens lifted their price target on shares of United Community Banks from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods raised United Community Banks from a "market perform" rating to an "outperform" rating and upped their price target for the company from $36.00 to $40.00 in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.80.

United Community Banks Stock Up 0.9%

UCB stock opened at $35.19 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $4.21 billion, a P/E ratio of 11.58 and a beta of 0.81. United Community Banks, Inc. has a 52-week low of $28.65 and a 52-week high of $37.18. The company's 50 day simple moving average is $34.26 and its 200-day simple moving average is $33.49.

United Community Banks (NYSE:UCB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). United Community Banks had a return on equity of 9.61% and a net margin of 24.43%.The firm had revenue of $279.28 million during the quarter. As a group, equities research analysts anticipate that United Community Banks, Inc. will post 2.93 EPS for the current year.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Monday, June 15th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. United Community Banks's dividend payout ratio (DPR) is presently 32.89%.

Insider Buying and Selling

In other United Community Banks news, EVP Richard Bradshaw sold 1,510 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $33.09, for a total transaction of $49,965.90. Following the completion of the sale, the executive vice president directly owned 84,497 shares in the company, valued at approximately $2,796,005.73. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.45% of the company's stock.

United Community Banks Profile

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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