Oppenheimer Asset Management Inc. Increases Position in United Community Banks, Inc. $UCB

Oppenheimer Asset Management Inc. raised its position in shares of United Community Banks, Inc. (NYSE:UCB) by 6.4% during the second quarter, HoldingsChannel reports. The firm owned 60,446 shares of the company’s stock after purchasing an additional 3,630 shares during the period. Oppenheimer Asset Management Inc.’s holdings in United Community Banks were worth $1,801,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UCB. State of Wyoming boosted its holdings in shares of United Community Banks by 9.4% in the 1st quarter. State of Wyoming now owns 4,010 shares of the company’s stock worth $113,000 after purchasing an additional 344 shares in the last quarter. Xponance Inc. lifted its position in United Community Banks by 5.8% in the 1st quarter. Xponance Inc. now owns 9,094 shares of the company’s stock worth $256,000 after buying an additional 500 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in United Community Banks by 0.6% in the first quarter. Great Lakes Advisors LLC now owns 94,983 shares of the company’s stock worth $2,672,000 after buying an additional 584 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in United Community Banks by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 56,800 shares of the company’s stock worth $1,692,000 after buying an additional 600 shares in the last quarter. Finally, Inspire Investing LLC grew its position in United Community Banks by 6.4% during the second quarter. Inspire Investing LLC now owns 13,028 shares of the company’s stock valued at $388,000 after acquiring an additional 781 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

United Community Banks Trading Down 0.1%

UCB stock opened at $29.20 on Friday. The stock has a market capitalization of $3.55 billion, a PE ratio of 11.59 and a beta of 0.83. The company has a 50-day moving average price of $31.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.80. United Community Banks, Inc. has a 12-month low of $22.93 and a 12-month high of $35.38.

United Community Banks (NYSE:UCB) last posted its earnings results on Wednesday, October 22nd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. United Community Banks had a net margin of 20.67% and a return on equity of 9.42%. The company had revenue of $276.85 million during the quarter, compared to analyst estimates of $270.85 million. During the same period in the prior year, the business posted $0.57 earnings per share. United Community Banks’s revenue for the quarter was up 27.4% on a year-over-year basis.

United Community Banks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a $0.25 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from United Community Banks’s previous quarterly dividend of $0.24. United Community Banks’s dividend payout ratio is 39.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of United Community Banks from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Raymond James Financial downgraded shares of United Community Banks from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 8th. DA Davidson raised their price objective on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Community Banks in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on United Community Banks from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, United Community Banks presently has a consensus rating of “Hold” and a consensus price target of $35.33.

Insider Activity

In related news, EVP Richard Bradshaw sold 1,654 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $30.23, for a total transaction of $50,000.42. Following the completion of the transaction, the executive vice president owned 75,226 shares in the company, valued at $2,274,081.98. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.43% of the company’s stock.

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. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.