Hsbc Holdings PLC Has $770,000 Stake in United Community Banks, Inc. $UCB

Hsbc Holdings PLC boosted its position in shares of United Community Banks, Inc. (NYSE:UCBFree Report) by 239.4% during the 4th quarter, HoldingsChannel reports. The firm owned 24,662 shares of the company’s stock after buying an additional 17,396 shares during the quarter. Hsbc Holdings PLC’s holdings in United Community Banks were worth $770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of United Community Banks in the fourth quarter valued at $29,000. Covestor Ltd grew its holdings in shares of United Community Banks by 196.1% during the fourth quarter. Covestor Ltd now owns 992 shares of the company’s stock valued at $31,000 after buying an additional 657 shares in the last quarter. Torren Management LLC purchased a new position in shares of United Community Banks during the fourth quarter valued at $39,000. First Horizon Corp raised its position in United Community Banks by 51.7% during the fourth quarter. First Horizon Corp now owns 1,315 shares of the company’s stock valued at $41,000 after buying an additional 448 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in United Community Banks during the fourth quarter valued at $42,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Community Banks

In related news, EVP Richard Bradshaw sold 1,510 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on UCB. Stephens increased their price objective on United Community Banks from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Piper Sandler dropped their target price on United Community Banks from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, June 17th. Hovde Group dropped their target price 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. Keefe, Bruyette & Woods raised shares of United Community Banks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Thursday, April 9th. Finally, DA Davidson raised their price target on shares of United Community Banks from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Check Out Our Latest Research Report on United Community Banks

United Community Banks Price Performance

Shares of UCB opened at $35.62 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $4.26 billion, a PE ratio of 13.10 and a beta of 0.81. The firm’s 50 day moving average price is $33.81 and its 200 day moving average price is $33.27. United Community Banks, Inc. has a twelve month low of $28.65 and a twelve month high of $36.77.

United Community Banks (NYSE:UCBGet Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. United Community Banks had a net margin of 22.05% and a return on equity of 9.65%. The company had revenue of $278.26 million during the quarter. During the same period in the prior year, the firm earned $0.58 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that United Community Banks, Inc. will post 3.02 EPS for the current fiscal year.

United Community Banks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Monday, June 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 15th. United Community Banks’s payout ratio is presently 36.76%.

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.

Further Reading

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

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