Fisher Asset Management LLC Trims Holdings in United Community Banks, Inc. (NASDAQ:UCBI)

Fisher Asset Management LLC lessened its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,034,096 shares of the financial services provider's stock after selling 267,228 shares during the period. Fisher Asset Management LLC owned about 0.87% of United Community Banks worth $30,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Carmel Capital Partners LLC bought a new stake in shares of United Community Banks during the 3rd quarter valued at about $36,000. GAMMA Investing LLC purchased a new position in shares of United Community Banks during the 4th quarter worth approximately $72,000. SG Americas Securities LLC bought a new position in shares of United Community Banks in the 4th quarter worth approximately $115,000. Strs Ohio lifted its stake in shares of United Community Banks by 17.6% in the 4th quarter. Strs Ohio now owns 6,000 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 900 shares during the period. Finally, Xponance Inc. purchased a new position in shares of United Community Banks in the 4th quarter valued at approximately $205,000. Institutional investors own 82.29% of the company's stock.

Analysts Set New Price Targets

UCBI has been the subject of several recent research reports. Truist Financial lowered their price objective on United Community Banks from $31.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 1st. Piper Sandler reduced their price target on United Community Banks from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. DA Davidson reiterated a "buy" rating on shares of United Community Banks in a research note on Monday, January 15th. StockNews.com upgraded shares of United Community Banks to a "sell" rating in a research note on Wednesday, January 17th. Finally, TheStreet lowered shares of United Community Banks from a "b" rating to a "c+" rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $30.60.

United Community Banks Stock Performance

United Community Banks stock traded up $0.27 during midday trading on Friday, reaching $26.32. 302,889 shares of the company traded hands, compared to its average volume of 563,263. United Community Banks, Inc. has a 12 month low of $20.37 and a 12 month high of $30.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average of $25.49 and a two-hundred day moving average of $26.24. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 17.09 and a beta of 0.92.

United Community Banks (NASDAQ:UCBI - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $225.80 million for the quarter, compared to analysts' expectations of $232.00 million. United Community Banks had a return on equity of 8.02% and a net margin of 13.62%. The company's revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. As a group, research analysts predict that United Community Banks, Inc. will post 2.12 earnings per share for the current year.

United Community Banks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 14th. United Community Banks's payout ratio is currently 59.74%.

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.