First Trust Advisors LP cut its holdings in United Community Banks, Inc. (NASDAQ:UCBI) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,633 shares of the financial services provider’s stock after selling 35,261 shares during the period. First Trust Advisors LP owned approximately 0.19% of United Community Banks worth $3,757,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Boston Advisors LLC bought a new stake in United Community Banks in the third quarter worth $5,472,000. Fox Run Management L.L.C. boosted its holdings in United Community Banks by 482.9% during the third quarter. Fox Run Management L.L.C. now owns 44,300 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 36,700 shares during the period. Phocas Financial Corp. boosted its holdings in United Community Banks by 4.7% during the second quarter. Phocas Financial Corp. now owns 687,563 shares of the financial services provider’s stock valued at $19,114,000 after acquiring an additional 30,688 shares during the period. Piedmont Investment Advisors LLC bought a new stake in United Community Banks during the second quarter valued at about $427,000. Finally, Susquehanna International Group LLP bought a new stake in United Community Banks during the second quarter valued at about $514,000. Hedge funds and other institutional investors own 87.69% of the company’s stock.
United Community Banks, Inc. (UCBI) traded up $0.50 during midday trading on Monday, hitting $29.03. 273,017 shares of the company traded hands, compared to its average volume of 398,630. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.52. United Community Banks, Inc. has a twelve month low of $24.47 and a twelve month high of $30.47. The company has a market capitalization of $2,130.00, a PE ratio of 17.72 and a beta of 0.88.
United Community Banks (NASDAQ:UCBI) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The business had revenue of $109.35 million during the quarter, compared to analysts’ expectations of $114.65 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. sell-side analysts predict that United Community Banks, Inc. will post 1.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, December 14th. United Community Banks’s payout ratio is presently 27.21%.
UCBI has been the subject of a number of recent analyst reports. ValuEngine cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research cut shares of United Community Banks from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. FIG Partners upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Wednesday, August 16th. SunTrust Banks restated a “buy” rating and set a $33.00 price target on shares of United Community Banks in a report on Thursday, October 12th. Finally, BidaskClub cut shares of United Community Banks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.25.
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United Community Banks Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
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