Voya Investment Management LLC Grows Stock Holdings in United Community Banks, Inc. $UCB

Key Points

• Voya Investment Management LLC increased its stake in United Community Banks, Inc. by 5.2%, owning 187,408 shares valued at $5.27 million as of the latest SEC filing.
• The company recently announced a quarterly dividend increase to $0.25 per share, reflecting an annualized yield of 3.1% and a payout ratio of 45.45%.
• Shares of United Community Banks opened at $32.44, with analysts predicting an earnings per share of 2.52 for the current fiscal year and a consensus target price of $34.57.

Voya Investment Management LLC boosted its stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,408 shares of the company's stock after acquiring an additional 9,346 shares during the quarter. Voya Investment Management LLC owned about 0.15% of United Community Banks worth $5,272,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UCB. Quarry LP bought a new position in shares of United Community Banks during the 1st quarter valued at approximately $26,000. Versant Capital Management Inc bought a new position in United Community Banks during the first quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of United Community Banks in the fourth quarter valued at $42,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of United Community Banks in the 1st quarter worth about $45,000. Finally, CWM LLC purchased a new position in shares of United Community Banks during the 1st quarter worth about $62,000. 82.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UCB. Keefe, Bruyette & Woods increased their price objective on shares of United Community Banks from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research note on Tuesday, July 8th. 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 report on Thursday, July 24th. Finally, Hovde Group lifted their target price on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $34.57.

United Community Banks Stock Down 1.3%

Shares of UCB stock traded down $0.44 during mid-day trading on Monday, hitting $31.80. The stock had a trading volume of 595,659 shares, compared to its average volume of 701,163. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month 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 is $31.70 and its two-hundred day moving average is $29.41. The firm has a market capitalization of $3.86 billion, a P/E ratio of 15.59 and a beta of 0.86.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.66 earnings per share for the quarter, beating 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 firm's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that United Community Banks, Inc. will post 2.52 earnings per share for the current fiscal year.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. United Community Banks's payout ratio is 45.45%.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,616 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.43% of the stock is currently owned by 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.