Raymond James Financial Inc. Buys 31,999 Shares of United Community Banks, Inc. $UCB

Key Points

• Raymond James Financial Inc. increased its holdings in United Community Banks by 11.9%, owning 300,514 shares worth approximately $8.45 million as of the latest SEC filing.
• United Community Banks reported earnings of $0.66 per share for the last quarter, exceeding analyst expectations of $0.61, and has increased its quarterly dividend to $0.25 per share.
• Overall, institutional investors currently own 82.29% of United Community Banks' stock, indicating strong support from these entities.

Raymond James Financial Inc. boosted its stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,514 shares of the company's stock after purchasing an additional 31,999 shares during the period. Raymond James Financial Inc. owned 0.25% of United Community Banks worth $8,454,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in United Community Banks by 2.9% during the first quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company's stock valued at $403,295,000 after purchasing an additional 404,866 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in United Community Banks by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,151,914 shares of the company's stock valued at $173,047,000 after buying an additional 92,952 shares during the period. Invesco Ltd. raised its stake in United Community Banks by 4.1% in the first quarter. Invesco Ltd. now owns 1,513,333 shares of the company's stock valued at $42,570,000 after buying an additional 59,902 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in United Community Banks in the first quarter valued at approximately $40,871,000. Finally, Northern Trust Corp bought a new stake in United Community Banks in the fourth quarter valued at approximately $45,527,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Community Banks news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the transaction, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.43% of the stock is currently owned by company insiders.

United Community Banks Stock Performance

Shares of NASDAQ UCB traded down $0.31 during trading hours on Friday, reaching $33.28. 440,740 shares of the stock were exchanged, compared to its average volume of 702,771. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 16.31 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The stock's fifty day simple moving average is $31.51 and its 200 day simple moving average is $29.35.

United Community Banks (NASDAQ:UCB - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share 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. Sell-side analysts predict 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. Shareholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. 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 yield of 3.0%. United Community Banks's dividend payout ratio is 45.45%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UCB. DA Davidson upped 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 restated a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Hovde Group upped their price objective on 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 investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.57.

United Community Banks Company 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.