Insider Selling: United Community Banks (NYSE:UCB) EVP Sells 1,424 Shares of Stock

Key Points

• Insider sale: EVP Richard Bradshaw sold 1,424 United Community Banks shares at an average price of $35.09, generating approximately $49,968. He retained 83,228 shares after the transaction.
• Quarterly results: United Community Banks reported quarterly EPS of $0.71, missing the $0.80 analyst consensus, while revenue totaled $279.28 million. The company maintains a 2.8% dividend yield based on its annualized $1.00-per-share payout.
• Analyst outlook: The stock has a consensus “Moderate Buy” rating and an average price target of $38.80, compared with a recent trading price of $35.45; institutional investors own approximately 82.29% of outstanding shares.

United Community Banks, Inc. (NYSE:UCB - Get Free Report) EVP Richard Bradshaw sold 1,424 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $35.09, for a total value of $49,968.16. Following the completion of the transaction, the executive vice president directly owned 83,228 shares of the company's stock, valued at approximately $2,920,470.52. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

United Community Banks Price Performance

UCB traded up $0.28 during trading hours on Tuesday, hitting $35.45. The company's stock had a trading volume of 207,824 shares, compared to its average volume of 920,044. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. United Community Banks, Inc. has a 12 month low of $28.65 and a 12 month high of $37.18. The business's 50-day moving average price is $34.31 and its 200-day moving average price is $33.52. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 11.66 and a beta of 0.81.

United Community Banks (NYSE:UCB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $279.28 million for the quarter. United Community Banks had a return on equity of 9.61% and a net margin of 24.43%. Sell-side analysts expect that United Community Banks, Inc. will post 2.93 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Monday, June 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. United Community Banks's payout ratio is 32.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UCB shares. TD Cowen upgraded shares of United Community Banks to a "strong-buy" rating in a research report on Thursday, July 16th. Wall Street Zen lowered United Community Banks from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings upgraded shares of United Community Banks from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods raised United Community Banks from a "market perform" rating to an "outperform" rating and increased their price target for the company from $36.00 to $40.00 in a research report on Thursday, April 9th. Finally, Hovde Group decreased their price target on shares of United Community Banks from $38.00 to $37.00 and set a "market perform" rating for the company in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

Hedge Funds Weigh In On United Community Banks

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in United Community Banks by 7.0% during the first quarter. Royal Bank of Canada now owns 55,319 shares of the company's stock worth $1,557,000 after buying an additional 3,617 shares during the period. AQR Capital Management LLC boosted its stake in shares of United Community Banks by 176.2% in the first quarter. AQR Capital Management LLC now owns 26,530 shares of the company's stock valued at $746,000 after purchasing an additional 16,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in United Community Banks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,211 shares of the company's stock valued at $2,003,000 after purchasing an additional 3,115 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in United Community Banks in the 1st quarter worth $219,000. Finally, United Services Automobile Association purchased a new position in United Community Banks in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 82.29% 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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