Victory Capital Management Inc. purchased a new stake in United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 41,298 shares of the company's stock, valued at approximately $1,162,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MQS Management LLC acquired a new position in shares of United Community Banks in the first quarter valued at about $219,000. Smith Thornton Advisors LLC acquired a new stake in United Community Banks during the first quarter worth about $474,000. CWM LLC acquired a new stake in United Community Banks during the first quarter worth about $62,000. Louisiana State Employees Retirement System acquired a new stake in United Community Banks during the first quarter worth about $1,581,000. Finally, New York State Common Retirement Fund acquired a new stake in United Community Banks during the first quarter worth about $1,043,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
United Community Banks Price Performance
Shares of NASDAQ UCB traded down $0.61 during midday trading on Friday, hitting $29.89. The stock had a trading volume of 828,403 shares, compared to its average volume of 731,517. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company has a market capitalization of $3.63 billion, a PE ratio of 14.65 and a beta of 0.78. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $29.96 and a 200-day simple moving average of $29.64.
United Community Banks (NASDAQ:UCB - Get Free Report) last announced 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 revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.
United Community Banks Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Sunday, June 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 13th. United Community Banks's dividend payout ratio is 43.64%.
Analyst Upgrades and Downgrades
UCB has been the topic of several analyst reports. Hovde Group raised 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. Keefe, Bruyette & Woods raised their target price on United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Monday. Stephens reissued an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. 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 report on Thursday, July 24th. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, United Community Banks presently has an average rating of "Hold" and a consensus price target of $34.57.
Check Out Our Latest Research Report on UCB
Insider Activity at United Community Banks
In other news, EVP Richard Bradshaw sold 1,616 shares of the company's 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 transaction, the executive vice president owned 78,395 shares of the company's stock, valued at $2,425,541.30. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.43% of the stock is currently owned by company insiders.
United Community Banks Company Profile
(
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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