BlueMountain Capital Management LLC boosted its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 41.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,420 shares of the financial services provider’s stock after purchasing an additional 7,730 shares during the period. BlueMountain Capital Management LLC’s holdings in United Community Banks were worth $810,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in UCBI. Itau Unibanco Holding S.A. purchased a new stake in United Community Banks during the 2nd quarter worth approximately $108,000. Mount Yale Investment Advisors LLC purchased a new stake in United Community Banks during the 1st quarter worth approximately $114,000. SG Americas Securities LLC purchased a new stake in United Community Banks during the 1st quarter worth approximately $153,000. Intrust Bank NA purchased a new stake in United Community Banks during the 2nd quarter worth approximately $209,000. Finally, WINTON GROUP Ltd purchased a new stake in United Community Banks during the 1st quarter worth approximately $231,000. 88.41% of the stock is currently owned by institutional investors.
Several research firms have recently commented on UCBI. Zacks Investment Research raised shares of United Community Banks from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. SunTrust Banks downgraded shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. BidaskClub downgraded shares of United Community Banks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Finally, Hovde Group set a $34.00 price objective on shares of United Community Banks and gave the company a “buy” rating in a report on Monday, July 30th. One 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. The stock has a consensus rating of “Hold” and a consensus target price of $32.67.
UCBI stock opened at $29.19 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 17.91 and a beta of 0.89. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.63. United Community Banks, Inc. has a 12 month low of $25.68 and a 12 month high of $34.18.
United Community Banks (NASDAQ:UCBI) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The business had revenue of $130.02 million during the quarter, compared to analysts’ expectations of $133.24 million. United Community Banks had a net margin of 17.42% and a return on equity of 10.99%. The firm’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. research analysts expect that United Community Banks, Inc. will post 2.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Saturday, September 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 13th. United Community Banks’s dividend payout ratio (DPR) is currently 36.81%.
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.
Featured Article: How Do Tariffs Affect Trade Balances?
Receive News & Ratings for United Community Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks and related companies with MarketBeat.com's FREE daily email newsletter.