United Community Banks, Inc. $UCB Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in United Community Banks, Inc. (NYSE:UCBFree Report) by 22.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,696 shares of the company’s stock after selling 22,841 shares during the period. Intech Investment Management LLC’s holdings in United Community Banks were worth $2,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jackson Creek Investment Advisors LLC bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $408,000. Hantz Financial Services Inc. raised its holdings in shares of United Community Banks by 48.9% in the 4th quarter. Hantz Financial Services Inc. now owns 5,756 shares of the company’s stock worth $180,000 after purchasing an additional 1,891 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $62,000. MQS Management LLC bought a new stake in shares of United Community Banks in the 4th quarter worth approximately $357,000. Finally, Global Retirement Partners LLC raised its holdings in shares of United Community Banks by 1,242,300.0% in the 4th quarter. Global Retirement Partners LLC now owns 12,424 shares of the company’s stock worth $388,000 after purchasing an additional 12,423 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on UCB shares. Zacks Research downgraded shares of United Community Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. DA Davidson reiterated a “buy” rating and issued a $39.00 target price on shares of United Community Banks in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods raised United Community Banks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $36.00 to $40.00 in a research note on Thursday, April 9th. Hovde Group cut their price objective on United Community Banks from $38.00 to $37.00 and set a “market perform” rating on the stock in a report on Monday, April 27th. Finally, Piper Sandler boosted their price objective on United Community Banks from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.40.

View Our Latest Analysis on UCB

United Community Banks Stock Down 1.9%

UCB stock opened at $32.24 on Thursday. United Community Banks, Inc. has a 52-week low of $27.23 and a 52-week high of $36.77. The company’s 50 day simple moving average is $32.90 and its 200-day simple moving average is $32.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $3.86 billion, a P/E ratio of 11.85 and a beta of 0.82.

United Community Banks (NYSE:UCBGet Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.70 earnings per share (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 $278.27 million for the quarter. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that United Community Banks, Inc. will post 2.99 EPS for the current year.

United Community Banks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 15th. United Community Banks’s dividend payout ratio is currently 36.76%.

Insiders Place Their Bets

In other United Community Banks news, EVP Richard Bradshaw sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $33.09, for a total value of $49,965.90. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.45% of the company’s stock.

About United Community Banks

(Free Report)

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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Institutional Ownership by Quarter for United Community Banks (NYSE:UCB)

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