Metropolitan Life Insurance Co. NY reduced its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,367 shares of the financial services provider’s stock after selling 515 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.07% of United Community Banks worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC bought a new position in United Community Banks during the first quarter valued at approximately $101,000. Cypress Capital Management LLC WY bought a new position in United Community Banks during the first quarter valued at approximately $122,000. Glen Harbor Capital Management LLC bought a new position in United Community Banks during the first quarter valued at approximately $122,000. LS Investment Advisors LLC increased its position in United Community Banks by 89.3% in the first quarter. LS Investment Advisors LLC now owns 4,993 shares of the financial services provider’s stock valued at $138,000 after buying an additional 2,355 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in United Community Banks during the first quarter valued at approximately $168,000. Hedge funds and other institutional investors own 94.06% of the company’s stock.

United Community Banks, Inc. (NASDAQ:UCBI) traded up 0.31% during midday trading on Friday, reaching $25.83. 317,751 shares of the company traded hands. The firm has a 50-day moving average price of $27.63 and a 200-day moving average price of $27.59. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 17.69 and a beta of 0.88. United Community Banks, Inc. has a one year low of $19.75 and a one year high of $30.47.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $108 million during the quarter, compared to analyst estimates of $110.49 million. United Community Banks had a return on equity of 10.42% and a net margin of 23.07%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities analysts predict that United Community Banks, Inc. will post $1.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from United Community Banks’s previous quarterly dividend of $0.09. United Community Banks’s payout ratio is presently 24.66%.

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Several equities analysts have commented on the stock. UBS AG upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. BidaskClub downgraded shares of United Community Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. FIG Partners upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Wednesday. Stephens restated a “hold” rating and issued a $29.00 price target on shares of United Community Banks in a research note on Wednesday, July 26th. Finally, ValuEngine upgraded shares of United Community Banks from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $30.86.

In other United Community Banks news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $26.06, for a total transaction of $300,993.00. Following the completion of the transaction, the executive vice president now owns 16,858 shares of the company’s stock, valued at approximately $439,319.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is owned by insiders.

United Community Banks Company 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.

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

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