Great Lakes Advisors LLC Sells 121,844 Shares of United Community Banks, Inc. (NASDAQ:UCBI)

Great Lakes Advisors LLC decreased its position in shares of United Community Banks, Inc. (NASDAQ:UCBI - Free Report) by 71.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,816 shares of the financial services provider's stock after selling 121,844 shares during the quarter. Great Lakes Advisors LLC's holdings in United Community Banks were worth $1,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of UCBI. GAMMA Investing LLC acquired a new stake in United Community Banks during the 4th quarter worth approximately $72,000. SG Americas Securities LLC acquired a new stake in shares of United Community Banks during the fourth quarter worth $115,000. Strs Ohio lifted its position in 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 acquiring an additional 900 shares in the last quarter. Private Advisor Group LLC acquired a new position in United Community Banks in the 4th quarter worth $203,000. Finally, Xponance Inc. bought a new position in United Community Banks during the 4th quarter worth about $205,000. Institutional investors and hedge funds own 82.29% of the company's stock.

United Community Banks Stock Down 0.8 %

Shares of NASDAQ:UCBI traded down $0.22 during midday trading on Wednesday, hitting $26.62. The stock had a trading volume of 493,786 shares, compared to its average volume of 595,022. The company has a market cap of $3.17 billion, a P/E ratio of 17.29 and a beta of 0.92. United Community Banks, Inc. has a 12 month low of $21.63 and a 12 month high of $30.75. The business's 50-day simple moving average is $25.69 and its 200-day simple moving average is $26.58. 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 announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. United Community Banks had a net margin of 13.62% and a return on equity of 8.02%. The company had revenue of $225.80 million during the quarter, compared to the consensus estimate of $232.00 million. During the same quarter last year, the firm posted $0.58 EPS. The company's quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that United Community Banks, Inc. will post 2.12 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be paid a $0.23 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 3.46%. United Community Banks's dividend payout ratio is 59.74%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UCBI. TheStreet cut United Community Banks from a "b" rating to a "c+" rating in a research report on Wednesday, January 24th. Piper Sandler cut their price objective on shares of United Community Banks from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial decreased their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.60.

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.