Wells Fargo & Company MN reduced its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 41.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 558,637 shares of the financial services provider’s stock after selling 399,519 shares during the period. Wells Fargo & Company MN owned approximately 0.79% of United Community Banks worth $11,743,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capstone Asset Management Co. increased its stake in shares of United Community Banks by 0.7% in the third quarter. Capstone Asset Management Co. now owns 17,731 shares of the financial services provider’s stock valued at $373,000 after buying an additional 116 shares during the period. Texas Permanent School Fund increased its stake in shares of United Community Banks by 0.4% in the third quarter. Texas Permanent School Fund now owns 53,951 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 194 shares during the period. Louisiana State Employees Retirement System raised its position in United Community Banks by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 31,300 shares of the financial services provider’s stock valued at $658,000 after buying an additional 200 shares in the last quarter. Nationwide Fund Advisors raised its position in United Community Banks by 0.3% in the third quarter. Nationwide Fund Advisors now owns 244,544 shares of the financial services provider’s stock valued at $5,140,000 after buying an additional 743 shares in the last quarter. Finally, US Bancorp DE raised its position in United Community Banks by 2.5% in the second quarter. US Bancorp DE now owns 32,285 shares of the financial services provider’s stock valued at $591,000 after buying an additional 782 shares in the last quarter.

Institutional Ownership by Quarter for United Community Banks (NASDAQ:UCBI)

Shares of United Community Banks, Inc. (NASDAQ:UCBI) traded up 1.53% on Wednesday, hitting $27.20. 179,130 shares of the stock traded hands. The firm’s 50 day moving average is $23.03 and its 200 day moving average is $20.55. United Community Banks, Inc. has a 52 week low of $15.74 and a 52 week high of $27.50. The firm has a market capitalization of $1.93 billion and a PE ratio of 21.38.

United Community Banks (NASDAQ:UCBI) last announced its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, analysts expect that United Community Banks, Inc. will post $1.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, December 13th.

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UCBI has been the topic of several research reports. Zacks Investment Research lowered shares of United Community Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Hovde Group lowered shares of United Community Banks from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $22.00 to $23.00 in a research note on Thursday, October 27th. Raymond James Financial Inc. upgraded shares of United Community Banks from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $22.00 to $24.00 in a research note on Thursday, October 6th. Finally, Keefe, Bruyette & Woods lowered shares of United Community Banks from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $24.00 to $26.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $24.60.

About United Community Banks

United Community Banks, Inc is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee.

5 Day Chart for NASDAQ:UCBI

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