Meeder Asset Management Inc. acquired a new stake in United Community Banks, Inc. (NASDAQ:UCBI) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,046 shares of the financial services provider’s stock, valued at approximately $51,000.
Several other institutional investors have also made changes to their positions in UCBI. Norges Bank bought a new position in shares of United Community Banks during the fourth quarter valued at approximately $16,187,000. Oregon Public Employees Retirement Fund bought a new position in United Community Banks in the fourth quarter worth $30,000. Millennium Management LLC raised its holdings in United Community Banks by 107.0% in the fourth quarter. Millennium Management LLC now owns 1,037,312 shares of the financial services provider’s stock worth $22,261,000 after purchasing an additional 536,075 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in United Community Banks by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,406,632 shares of the financial services provider’s stock worth $73,107,000 after purchasing an additional 398,806 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in United Community Banks in the first quarter worth $6,134,000. Institutional investors own 90.52% of the company’s stock.
In other news, EVP Bradley J. Miller sold 8,627 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $29.16, for a total value of $251,563.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.18% of the company’s stock.
A number of research firms have issued reports on UCBI. Zacks Investment Research upgraded United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. BidaskClub upgraded United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.17.
Shares of NASDAQ UCBI traded down $0.22 during trading on Wednesday, reaching $27.45. The company had a trading volume of 250,084 shares, compared to its average volume of 480,340. United Community Banks, Inc. has a 12-month low of $20.23 and a 12-month high of $34.18. The stock has a market cap of $2.18 billion, a P/E ratio of 12.83 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. United Community Banks had a return on equity of 12.33% and a net margin of 27.98%. The firm had revenue of $133.30 million for the quarter, compared to analysts’ expectations of $137.03 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that United Community Banks, Inc. will post 2.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Saturday, June 15th will be paid a $0.17 dividend. This is a boost from United Community Banks’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, June 13th. United Community Banks’s dividend payout ratio is currently 29.91%.
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United Community Banks Company Profile
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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