GW&K Investment Management LLC increased its stake in shares of United Community Bank, Inc. (NASDAQ:UCBI) by 39.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,910 shares of the financial services provider’s stock after buying an additional 5,600 shares during the quarter. GW&K Investment Management LLC’s holdings in United Community Bank were worth $630,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in UCBI. BlackRock Inc. increased its holdings in United Community Bank by 3.6% during the 4th quarter. BlackRock Inc. now owns 10,158,810 shares of the financial services provider’s stock valued at $285,869,000 after purchasing an additional 352,963 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in United Community Bank during the 4th quarter valued at $6,781,000. Assenagon Asset Management S.A. acquired a new stake in United Community Bank during the 4th quarter valued at $5,697,000. FSI Group LLC acquired a new stake in United Community Bank during the 4th quarter valued at $3,665,000. Finally, Deutsche Bank AG increased its stake in shares of United Community Bank by 96.3% in the 4th quarter. Deutsche Bank AG now owns 265,180 shares of the financial services provider’s stock valued at $7,458,000 after buying an additional 130,098 shares during the period. 83.37% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on UCBI. BidaskClub raised United Community Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. Keefe, Bruyette & Woods raised United Community Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. ValuEngine cut United Community Bank from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research lowered United Community Bank from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.20.
NASDAQ:UCBI opened at $33.43 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $2.62 billion, a P/E ratio of 19.06 and a beta of 0.89. United Community Bank, Inc. has a 52-week low of $32.86 and a 52-week high of $33.16.
United Community Bank (NASDAQ:UCBI) last announced its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $121.90 million for the quarter, compared to the consensus estimate of $127.02 million. United Community Bank had a return on equity of 10.49% and a net margin of 16.20%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. analysts anticipate that United Community Bank, Inc. will post 2.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, June 14th. This is an increase from United Community Bank’s previous quarterly dividend of $0.12. United Community Bank’s payout ratio is 29.45%.
United Community Bank Company Profile
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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