Louisiana State Employees Retirement System Takes Position in United Community Banks, Inc. (NASDAQ:UCBI)

Louisiana State Employees Retirement System acquired a new stake in United Community Banks, Inc. (NASDAQ:UCBI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 59,500 shares of the financial services provider's stock, valued at approximately $1,741,000. Louisiana State Employees Retirement System owned about 0.05% of United Community Banks at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC grew its stake in shares of United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider's stock worth $29,000 after purchasing an additional 474 shares during the period. Belpointe Asset Management LLC grew its position in United Community Banks by 113.1% during the first quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider's stock worth $39,000 after buying an additional 735 shares during the period. Carmel Capital Partners LLC purchased a new position in United Community Banks in the third quarter valued at about $36,000. State of Wyoming increased its holdings in United Community Banks by 25.9% in the second quarter. State of Wyoming now owns 1,898 shares of the financial services provider's stock valued at $47,000 after buying an additional 390 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new stake in shares of United Community Banks during the 4th quarter valued at approximately $105,000. 82.29% of the stock is owned by institutional investors and hedge funds.

United Community Banks Trading Up 2.2 %

Shares of UCBI traded up $0.55 on Friday, hitting $25.25. 1,035,166 shares of the stock traded hands, compared to its average volume of 650,921. United Community Banks, Inc. has a 1 year low of $20.37 and a 1 year high of $30.75. The stock's 50 day moving average is $25.72 and its two-hundred day moving average is $26.19. The firm has a market capitalization of $3.01 billion, a P/E ratio of 15.94 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

United Community Banks (NASDAQ:UCBI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The business had revenue of $165.70 million for the quarter, compared to analysts' expectations of $226.07 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business's revenue was down 25.8% on a year-over-year basis. As a group, sell-side analysts predict that United Community Banks, Inc. will post 2.19 earnings per share for the current year.

United Community Banks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.64%. United Community Banks's dividend payout ratio is presently 59.36%.

Analyst Upgrades and Downgrades

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