Hsbc Holdings PLC grew its holdings in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 56.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,706 shares of the company's stock after purchasing an additional 7,794 shares during the quarter. Hsbc Holdings PLC's holdings in United Community Banks were worth $606,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in UCB. Versant Capital Management Inc acquired a new position in shares of United Community Banks during the first quarter worth about $37,000. Public Employees Retirement System of Ohio acquired a new position in United Community Banks in the 4th quarter valued at about $42,000. MassMutual Private Wealth & Trust FSB acquired a new position in United Community Banks in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC acquired a new stake in United Community Banks in the fourth quarter valued at about $59,000. Finally, CWM LLC acquired a new stake in United Community Banks in the first quarter valued at about $62,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.
United Community Banks Stock Down 0.9%
Shares of NASDAQ UCB traded down $0.30 during mid-day trading on Tuesday, hitting $33.10. The company had a trading volume of 474,669 shares, compared to its average volume of 708,402. The company has a market capitalization of $4.02 billion, a PE ratio of 16.23 and a beta of 0.86. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $31.29 and a two-hundred day simple moving average of $29.35. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.
United Community Banks (NASDAQ:UCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 EPS 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. On average, equities analysts expect that United Community Banks, Inc. will post 2.52 EPS for the current year.
United Community Banks Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's payout ratio is presently 45.45%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on UCB shares. Keefe, Bruyette & Woods lifted their target price on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. 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, July 24th. Raymond James Financial reiterated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Finally, Hovde Group boosted their target price on shares of United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, United Community Banks currently has a consensus rating of "Hold" and an average target price of $34.57.
Check Out Our Latest Stock Analysis on UCB
Insider Buying and Selling
In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the transaction, the executive vice president owned 78,395 shares in the company, valued at approximately $2,425,541.30. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is owned by corporate insiders.
About United Community Banks
(
Free Report)
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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