United Community Banks, Inc. $UCB Shares Sold by DMC Group LLC

Key Points

• DMC Group LLC has significantly reduced its stake in United Community Banks, Inc. by 51.8% during the 2nd quarter, bringing its total ownership to approximately 0.05% of the company.
• United Community Banks recently declared a quarterly dividend of $0.25 per share, marking an increase from the previous $0.24, with an annualized yield of 3.1%.
• The company's most recent earnings report showed an EPS of $0.66, surpassing analysts' expectations and reflecting a 6.1% increase in revenue year-over-year.

DMC Group LLC lowered its stake in shares of United Community Banks, Inc. (NYSE:UCB - Free Report) by 51.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,768 shares of the company's stock after selling 69,575 shares during the quarter. United Community Banks comprises approximately 1.5% of DMC Group LLC's investment portfolio, making the stock its 15th largest holding. DMC Group LLC owned about 0.05% of United Community Banks worth $1,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in United Community Banks by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 14,336,816 shares of the company's stock worth $403,295,000 after buying an additional 404,866 shares during the period. Dimensional Fund Advisors LP increased its holdings in United Community Banks by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,151,914 shares of the company's stock worth $173,047,000 after buying an additional 92,952 shares during the period. Invesco Ltd. increased its holdings in United Community Banks by 4.1% in the 1st quarter. Invesco Ltd. now owns 1,513,333 shares of the company's stock worth $42,570,000 after buying an additional 59,902 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in United Community Banks in the 1st quarter worth approximately $40,871,000. Finally, Bank of New York Mellon Corp acquired a new position in United Community Banks in the 1st quarter worth approximately $34,780,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Price Performance

Shares of NYSE UCB opened at $32.03 on Wednesday. The firm has a market cap of $3.89 billion, a PE ratio of 14.56 and a beta of 0.83. United Community Banks, Inc. has a 12 month low of $22.93 and a 12 month high of $35.38. The stock's 50 day moving average price is $31.72. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.04.

United Community Banks (NYSE:UCB - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. United Community Banks had a net margin of 17.93% and a return on equity of 8.91%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. This is an increase from United Community Banks's previous quarterly dividend of $0.24. United Community Banks's dividend payout ratio is 45.45%.

Analyst Ratings Changes

Several equities analysts recently weighed in on UCB shares. Raymond James Financial downgraded shares of United Community Banks from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of United Community Banks in a report on Saturday, September 27th. DA Davidson raised their price objective on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Hovde Group raised their price objective on shares of United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised shares of United Community Banks from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $34.57.

Insider Transactions 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 value of $49,999.04. Following the sale, the executive vice president owned 78,395 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

About United Community Banks

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.

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