United Community Banks, Inc. $UCB Stock Holdings Decreased by Earnest Partners LLC

Key Points

• Earnest Partners LLC reduced its stake in United Community Banks by 5.1% in Q3, selling 195,968 shares and leaving it with 3,658,330 shares (~3.01% of the company) valued at $114.69 million; institutional investors now own 82.29% of UCB.
• United Community Banks declared a $0.25 quarterly dividend (annualized $1.00, yield 3.3%, ex-dividend March 13) and its board authorized a $100 million share repurchase program, equal to roughly 2.6% of outstanding shares.
• Analysts have a consensus rating of Moderate Buy with a $38.00 target; the company reported Q4 EPS of $0.71 (missed by $0.02) with revenue up 11% year-over-year, and the stock trades near $29.97 (P/E 11.48, market cap ~$3.58B).

Earnest Partners LLC lessened its position in United Community Banks, Inc. (NYSE:UCB - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,658,330 shares of the company's stock after selling 195,968 shares during the quarter. Earnest Partners LLC owned approximately 3.01% of United Community Banks worth $114,689,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UCB. Brevan Howard Capital Management LP grew its position in United Community Banks by 37.8% during the 3rd quarter. Brevan Howard Capital Management LP now owns 46,917 shares of the company's stock worth $1,471,000 after purchasing an additional 12,878 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of United Community Banks in the third quarter valued at $5,627,000. Azora Capital LP purchased a new stake in shares of United Community Banks in the third quarter valued at $13,423,000. California Public Employees Retirement System boosted its position in shares of United Community Banks by 10.7% in the third quarter. California Public Employees Retirement System now owns 213,123 shares of the company's stock worth $6,681,000 after buying an additional 20,562 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of United Community Banks by 7.9% in the third quarter. Bank of America Corp DE now owns 703,900 shares of the company's stock worth $22,067,000 after buying an additional 51,371 shares during the period. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on UCB. Weiss Ratings raised United Community Banks from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, March 3rd. DA Davidson lifted their target price on United Community Banks from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Hovde Group downgraded United Community Banks from an "outperform" rating to a "market perform" rating and set a $38.00 target price on the stock. in a report on Monday, February 9th. Stephens increased their price target on shares of United Community Banks from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, January 15th. Finally, Keefe, Bruyette & Woods raised their price target on shares of United Community Banks from $34.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

United Community Banks Price Performance

Shares of NYSE:UCB opened at $29.97 on Friday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 11.48 and a beta of 0.84. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $36.77. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $33.57 and a 200 day simple moving average of $32.10.

United Community Banks (NYSE:UCB - Get Free Report) last issued its earnings results on Wednesday, January 14th. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.02). United Community Banks had a net margin of 21.35% and a return on equity of 9.49%. During the same period in the previous year, the company posted $0.61 earnings per share. United Community Banks's revenue was up 11.0% compared to the same quarter last year.

United Community Banks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. United Community Banks's payout ratio is presently 38.31%.

United Community Banks declared that its board has authorized a share repurchase plan on Monday, December 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Alan H. Kumler sold 12,043 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $35.36, for a total value of $425,840.48. Following the transaction, the chief accounting officer owned 21,096 shares in the company, valued at approximately $745,954.56. This represents a 36.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.43% of the company's stock.

About United Community Banks

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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