Riverhead Capital Management LLC boosted its holdings in shares of United Community Banks, Inc. (NASDAQ:UCBI) by 134.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,390 shares of the financial services provider’s stock after purchasing an additional 3,090 shares during the period. Riverhead Capital Management LLC’s holdings in United Community Banks were worth $150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AJO LP increased its stake in United Community Banks by 94.6% in the second quarter. AJO LP now owns 478,901 shares of the financial services provider’s stock valued at $13,313,000 after purchasing an additional 232,813 shares during the period. Martingale Asset Management L P purchased a new stake in shares of United Community Banks in the second quarter valued at about $1,717,000. Schroder Investment Management Group raised its holdings in shares of United Community Banks by 14.0% in the second quarter. Schroder Investment Management Group now owns 2,255,122 shares of the financial services provider’s stock valued at $63,076,000 after buying an additional 276,341 shares during the last quarter. Swiss National Bank raised its holdings in shares of United Community Banks by 2.8% in the second quarter. Swiss National Bank now owns 113,700 shares of the financial services provider’s stock valued at $3,161,000 after buying an additional 3,100 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of United Community Banks by 26.5% in the second quarter. Prudential Financial Inc. now owns 422,742 shares of the financial services provider’s stock valued at $11,752,000 after buying an additional 88,690 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

UCBI has been the subject of several recent research reports. FIG Partners upgraded shares of United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Wednesday, August 16th. Raymond James Financial, Inc. dropped their price target on United Community Banks from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 27th. Stephens restated a “hold” rating and issued a $29.00 price target on shares of United Community Banks in a research report on Wednesday, July 26th. Zacks Investment Research raised United Community Banks from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, September 27th. Finally, BidaskClub downgraded United Community Banks from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $30.71.

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Shares of United Community Banks, Inc. (NASDAQ:UCBI) opened at 28.95 on Tuesday. The stock has a 50 day moving average of $26.37 and a 200 day moving average of $27.06. United Community Banks, Inc. has a 1-year low of $20.26 and a 1-year high of $30.47. The firm has a market cap of $2.05 billion, a PE ratio of 19.83 and a beta of 0.87.

United Community Banks (NASDAQ:UCBI) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. United Community Banks had a net margin of 23.07% and a return on equity of 10.42%. The firm had revenue of $108.00 million for the quarter, compared to the consensus estimate of $110.49 million. During the same period last year, the firm posted $0.36 EPS. United Community Banks’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that United Community Banks, Inc. will post $1.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.10 dividend. 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. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. United Community Banks’s dividend payout ratio is presently 27.40%.

In related news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $26.06, for a total transaction of $300,993.00. Following the sale, the executive vice president now directly owns 16,858 shares in the company, valued at $439,319.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.18% of the company’s stock.

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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