Great Lakes Advisors LLC increased its stake in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 21.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 62,982 shares of the financial services provider’s stock after buying an additional 11,015 shares during the period. Great Lakes Advisors LLC owned about 0.09% of United Community Banks worth $1,751,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Meadow Creek Investment Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $101,000. Glen Harbor Capital Management LLC acquired a new position in United Community Banks during the first quarter worth approximately $122,000. LS Investment Advisors LLC boosted 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 worth $138,000 after buying an additional 2,355 shares during the period. Ameritas Investment Partners Inc. acquired a new position in United Community Banks during the first quarter worth approximately $168,000. Finally, PNC Financial Services Group Inc. boosted its position in United Community Banks by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock worth $210,000 after buying an additional 295 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Shares of United Community Banks, Inc. (NASDAQ UCBI) opened at 26.23 on Tuesday. United Community Banks, Inc. has a 12 month low of $20.12 and a 12 month high of $30.47. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 17.97 and a beta of 0.88. The company’s 50-day moving average price is $27.35 and its 200-day moving average price is $27.51.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.52%. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, September 14th. United Community Banks’s dividend payout ratio is currently 24.66%.

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A number of research firms have recently commented on UCBI. UBS AG raised United Community Banks from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 3rd. Zacks Investment Research cut United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Stephens reissued a “hold” rating and set a $30.00 price target on shares of United Community Banks in a report on Tuesday, June 27th. ValuEngine raised United Community Banks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Hovde Group raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.86.

In related news, EVP Robert A. Edwards sold 11,550 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $26.06, for a total value of $300,993.00. Following the sale, the executive vice president now directly owns 16,858 shares of the company’s stock, valued at approximately $439,319.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.18% of the stock is currently owned by corporate 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.

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

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