Hsbc Holdings PLC Has $606,000 Holdings in United Community Banks, Inc. $UCB

Key Points

• Hsbc Holdings PLC increased its stake in United Community Banks by 56.0% during the first quarter, now owning shares worth $606,000 after acquiring an additional 7,794 shares.
• The company recently announced a quarterly dividend of $0.25 per share, marking an increase from the previous $0.24 and representing an annualized yield of 3.0%.
• Analysts have set new price targets for United Community Banks, with estimates ranging from $34.00 to $36.00, reflecting a consensus average target price of $34.57.

Hsbc Holdings PLC increased its holdings in United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 56.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 21,706 shares of the company's stock after buying 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in United Community Banks during the 1st quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of United Community Banks during the 4th quarter worth $42,000. MassMutual Private Wealth & Trust FSB acquired a new stake in United Community Banks in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC acquired a new position in United Community Banks during the fourth quarter worth approximately $59,000. Finally, CWM LLC acquired a new position in United Community Banks during the first quarter worth $62,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Performance

United Community Banks stock traded down $0.17 during trading hours on Friday, hitting $33.41. 79,724 shares of the stock traded hands, compared to its average volume of 700,592. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 16.33 and a beta of 0.86. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. The firm's 50 day moving average price is $31.44 and its 200-day moving average price is $29.38.

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 the consensus estimate 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 company's revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Increases Dividend

The business also recently declared 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 is a boost from United Community Banks's previous quarterly dividend of $0.24. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. United Community Banks's dividend payout ratio (DPR) is 45.45%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson increased their target price on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Hovde Group increased their target price on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial reaffirmed a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted 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. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus 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 United Community Banks stock in a transaction 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 sale, the executive vice president owned 78,395 shares of the company's stock, valued at $2,425,541.30. The trade was a 2.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.43% of the stock is currently owned by company insiders.

United Community Banks Profile

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.