XTX Topco Ltd Acquires New Shares in 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 acquired a new stake in shares of United Community Banks, Inc. (NASDAQ:UCB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,196 shares of the company's stock, valued at approximately $259,000.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp bought a new position in shares of United Community Banks during the first quarter valued at approximately $926,000. Amalgamated Bank bought a new position in shares of United Community Banks during the first quarter valued at approximately $957,000. Principal Financial Group Inc. bought a new position in shares of United Community Banks during the first quarter valued at approximately $16,721,000. GAMMA Investing LLC bought a new position in shares of United Community Banks during the first quarter valued at approximately $132,000. Finally, New York State Teachers Retirement System bought a new position in shares of United Community Banks during the first quarter valued at approximately $2,897,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

United Community Banks Stock Down 1.2%

UCB traded down $0.37 during trading on Friday, reaching $31.19. The stock had a trading volume of 580,554 shares, compared to its average volume of 721,053. The stock's 50 day moving average is $30.32 and its two-hundred day moving average is $29.44. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 15.29 and a beta of 0.83. United Community Banks, Inc. has a one year low of $22.93 and a one year high of $35.38.

United Community Banks (NASDAQ:UCB - Get Free Report) last issued its quarterly earnings results 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 company's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that United Community Banks, Inc. will post 2.52 earnings per share for the current year.

United Community Banks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This is a boost from United Community Banks's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. United Community Banks's dividend payout ratio is 45.45%.

Insider Buying and Selling at United Community Banks

In other news, EVP Richard Bradshaw sold 1,616 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.94, for a total transaction of $49,999.04. Following the completion of the transaction, the executive vice president directly owned 78,395 shares in the company, valued at $2,425,541.30. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James Financial restated a "market perform" rating on shares of United Community Banks in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on United Community Banks from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Monday, July 28th. DA Davidson increased their price objective on United Community Banks from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Hovde Group increased their price objective on United Community Banks from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price objective on shares of United Community Banks in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $34.57.

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.