Vanguard Group Inc. boosted its holdings in United Community Banks, Inc. (NYSE:UCB – Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,514,731 shares of the company’s stock after acquiring an additional 120,156 shares during the quarter. Vanguard Group Inc. owned 11.94% of United Community Banks worth $453,150,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Corp acquired a new stake in United Community Banks during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of United Community Banks by 130.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,951 shares of the company’s stock worth $58,000 after buying an additional 1,106 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of United Community Banks in the 1st quarter worth approximately $67,000. Exchange Traded Concepts LLC bought a new position in shares of United Community Banks during the 4th quarter worth approximately $100,000. Finally, Danske Bank A S acquired a new stake in United Community Banks in the 3rd quarter valued at $103,000. Institutional investors and hedge funds own 82.29% of the company’s stock.
Insider Transactions at United Community Banks
In related news, EVP Richard Bradshaw sold 1,510 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $33.09, for a total transaction of $49,965.90. Following the sale, the executive vice president owned 84,497 shares in the company, valued at approximately $2,796,005.73. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company’s stock.
United Community Banks Stock Up 1.1%
United Community Banks (NYSE:UCB – Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The business had revenue of $277.30 million during the quarter. During the same quarter in the prior year, the company earned $0.58 EPS. United Community Banks’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that United Community Banks, Inc. will post 2.99 earnings per share for the current year.
United Community Banks Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, March 13th. United Community Banks’s payout ratio is presently 36.76%.
Analysts Set New Price Targets
A number of analysts have weighed in on UCB shares. Stephens upped their price target on United Community Banks from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Zacks Research downgraded shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $40.00 in a report on Thursday, April 9th. DA Davidson reaffirmed a “buy” rating and set a $39.00 price target on shares of United Community Banks in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of United Community Banks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, United Community Banks currently has an average rating of “Moderate Buy” and a consensus target price of $38.40.
Get Our Latest Research Report on UCB
United Community Banks Profile
United Community Banks, Inc (NYSE: UCB) is a bank holding company headquartered in Blairsville, Georgia. It operates primarily through its subsidiary, United Community Bank, providing a broad range of banking and financial services to individual, business and governmental customers. The company’s core offerings include deposit accounts, commercial and consumer lending, mortgage origination, treasury and cash management services, and wealth management.
In addition to traditional banking products such as checking, savings and money market accounts, United Community Bank specializes in commercial real estate financing, small business administration (SBA) loans, equipment financing and agricultural lending.
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