United Community Banks, Inc. (NYSE:UCB – Get Free Report) EVP Richard Bradshaw sold 1,345 shares of United Community Banks stock in a transaction on Monday, October 26th. The stock was sold at an average price of $37.17, for a total value of $49,993.65. Following the sale, the executive vice president owned 82,054 shares of the company’s stock, valued at approximately $3,049,947.18. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
United Community Banks Trading Up 0.2%
Shares of UCB traded up $0.06 during trading hours on Monday, reaching $37.05. 1,246,091 shares of the company traded hands, compared to its average volume of 918,634. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 31.39 and a beta of 0.88. United Community Banks, Inc. has a 12-month low of $28.65 and a 12-month high of $37.45. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $34.74 and its 200 day moving average price is $34.43.
United Community Banks (NYSE:UCB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $291.90 million for the quarter. United Community Banks had a net margin of 9.06% and a return on equity of 9.66%. Sell-side analysts forecast that United Community Banks, Inc. will post 3.01 earnings per share for the current year.
United Community Banks Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th were paid a $0.26 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. This is an increase from United Community Banks’s previous quarterly dividend of $0.25. United Community Banks’s payout ratio is currently 88.14%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on UCB. Piper Sandler raised their target price on shares of United Community Banks from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Weiss Ratings reissued a “buy (b)” rating on shares of United Community Banks in a research report on Friday, September 25th. TD Cowen upgraded United Community Banks to a “strong-buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods raised their price target on United Community Banks from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen upgraded United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.
Get Our Latest Report on United Community Banks
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new stake in shares of United Community Banks in the third quarter valued at approximately $31,000. Willis Investment Counsel acquired a new stake in shares of United Community Banks during the third quarter valued at about $399,000. Barlow Wealth Partners LLC raised its position in United Community Banks by 42.0% in the third quarter. Barlow Wealth Partners LLC now owns 8,546 shares of the company’s stock valued at $288,000 after purchasing an additional 2,526 shares during the period. GAMMA Investing LLC lifted its stake in United Community Banks by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 8,885 shares of the company’s stock worth $296,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in shares of United Community Banks by 7.6% in the third quarter. Everhart Financial Group Inc. now owns 27,399 shares of the company’s stock valued at $914,000 after purchasing an additional 1,936 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.
About United Community Banks
United Community Banks, Inc is a bank holding company headquartered in Blairsville, Georgia. Through its principal subsidiary, United Community Bank, the company provides banking and financial services to consumers, businesses and communities primarily across the Southeastern United States.
United Community Bank offers deposit accounts, consumer and commercial lending, residential mortgages, credit cards, online and mobile banking, treasury management and other financial services. Its lending activities include commercial real estate, business, construction, residential and consumer loans.
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