XTX Topco Ltd Purchases Shares of 9,196 United Community Banks, Inc. (NASDAQ:UCB)

Key Points

• XTX Topco Ltd has made a new investment of approximately $259,000 in United Community Banks, acquiring 9,196 shares of the company during the first quarter.
• Recent analyst upgrades for United Community Banks include price target increases by Keefe, Bruyette & Woods, Hovde Group, and DA Davidson, with a current consensus price target of $34.57.
• United Community Banks recently reported quarterly earnings of $0.66 EPS, which exceeds analysts' expectations, alongside a declared quarterly dividend of $0.24 per share.

XTX Topco Ltd bought a new position in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,196 shares of the company's stock, valued at approximately $259,000.

Several other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $195,766,000. Capital Research Global Investors bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $148,763,000. Earnest Partners LLC bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $113,536,000. Snyder Capital Management L P bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $61,663,000. Finally, Invesco Ltd. bought a new position in shares of United Community Banks during the 4th quarter valued at approximately $46,960,000. Institutional investors own 82.29% of the company's stock.

United Community Banks Price Performance

Shares of UCB stock traded up $0.70 during trading on Wednesday, hitting $31.60. The company had a trading volume of 580,320 shares, compared to its average volume of 723,515. The stock's 50-day moving average is $30.23 and its two-hundred day moving average is $29.49. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 15.49 and a beta of 0.83. United Community Banks, Inc. has a 52 week low of $22.93 and a 52 week high of $35.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

United Community Banks (NASDAQ:UCB - Get Free Report) last released 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%. United Community Banks's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that United Community Banks, Inc. will post 2.52 EPS for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Sunday, June 15th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. United Community Banks's payout ratio is presently 43.64%.

Insiders Place Their Bets

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 stock was sold at an average price of $30.94, for a total value of $49,999.04. Following the completion of the sale, the executive vice president owned 78,395 shares in the company, valued at $2,425,541.30. The trade was a 2.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UCB shares. DA Davidson boosted their price target on shares of United Community Banks from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of United Community Banks in a research report on Wednesday, April 23rd. Hovde Group boosted their price target on shares of United Community Banks from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial reissued a "market perform" rating on shares of United Community Banks in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.