Peregrine Capital Management LLC Has $7.64 Million Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Peregrine Capital Management LLC lessened its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI - Free Report) by 18.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 260,977 shares of the financial services provider's stock after selling 58,611 shares during the quarter. Peregrine Capital Management LLC owned about 0.22% of United Community Banks worth $7,636,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in UCBI. Vanguard Group Inc. lifted its holdings in shares of United Community Banks by 1.9% in the third quarter. Vanguard Group Inc. now owns 13,278,707 shares of the financial services provider's stock valued at $337,412,000 after buying an additional 245,944 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of United Community Banks by 12.2% in the third quarter. Great Lakes Advisors LLC now owns 171,660 shares of the financial services provider's stock valued at $4,362,000 after buying an additional 18,622 shares during the period. Blair William & Co. IL acquired a new stake in shares of United Community Banks in the third quarter valued at $5,501,000. Sequoia Financial Advisors LLC lifted its holdings in shares of United Community Banks by 12.8% in the third quarter. Sequoia Financial Advisors LLC now owns 9,943 shares of the financial services provider's stock valued at $253,000 after buying an additional 1,128 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of United Community Banks by 21.4% in the third quarter. Northern Trust Corp now owns 1,913,924 shares of the financial services provider's stock valued at $48,633,000 after buying an additional 337,102 shares during the period. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Stock Down 4.7 %

NASDAQ:UCBI traded down $1.23 during trading hours on Wednesday, hitting $24.90. 952,184 shares of the company's stock traded hands, compared to its average volume of 650,204. The firm has a market cap of $2.97 billion, a P/E ratio of 16.06 and a beta of 0.94. United Community Banks, Inc. has a twelve month low of $20.37 and a twelve month high of $30.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock's fifty day moving average price is $25.99 and its two-hundred day moving average price is $26.21.

United Community Banks (NASDAQ:UCBI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $165.70 million for the quarter, compared to analyst estimates of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. United Community Banks's quarterly revenue was down 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, research analysts expect that United Community Banks, Inc. will post 2.19 earnings per share for the current fiscal year.

United Community Banks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.69%. United Community Banks's dividend payout ratio (DPR) is currently 59.36%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded United Community Banks to a "sell" rating in a report on Wednesday, January 17th. Piper Sandler boosted their target price on United Community Banks from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. DA Davidson reaffirmed a "buy" rating on shares of United Community Banks in a research report on Monday, January 15th. TheStreet lowered United Community Banks from a "b" rating to a "c+" rating in a research report on Wednesday, January 24th. Finally, Truist Financial cut their target price on United Community Banks from $31.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, United Community Banks has a consensus rating of "Hold" and an average price target of $31.00.

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.