Tyche Wealth Partners LLC Takes $491,000 Position in United Community Banks, Inc. (NASDAQ:UCBI)

Tyche Wealth Partners LLC acquired a new position in shares of United Community Banks, Inc. (NASDAQ:UCBI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,776 shares of the financial services provider’s stock, valued at approximately $491,000.

Several other institutional investors have also recently added to or reduced their stakes in UCBI. Eagle Bay Advisors LLC boosted its holdings in United Community Banks by 97.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 960 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 474 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of United Community Banks by 113.1% in the first quarter. Belpointe Asset Management LLC now owns 1,385 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 735 shares in the last quarter. Carmel Capital Partners LLC purchased a new stake in United Community Banks during the 3rd quarter worth approximately $36,000. State of Wyoming lifted its holdings in United Community Banks by 25.9% during the 2nd quarter. State of Wyoming now owns 1,898 shares of the financial services provider’s stock worth $47,000 after buying an additional 390 shares in the last quarter. Finally, Money Concepts Capital Corp purchased a new position in United Community Banks in the 4th quarter valued at approximately $105,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

United Community Banks Stock Up 2.1 %

NASDAQ:UCBI traded up $0.51 during midday trading on Wednesday, hitting $25.05. 28,100 shares of the company were exchanged, compared to its average volume of 639,339. United Community Banks, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $30.75. The company has a market capitalization of $2.98 billion, a PE ratio of 15.83 and a beta of 0.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $25.85 and a 200 day simple moving average of $26.22.

United Community Banks (NASDAQ:UCBI) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $165.70 million for the quarter, compared to analysts’ expectations of $226.07 million. United Community Banks had a return on equity of 8.32% and a net margin of 14.29%. The business’s revenue was down 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts anticipate that United Community Banks, Inc. will post 2.19 earnings per share for the current fiscal year.

United Community Banks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.67%. United Community Banks’s dividend payout ratio (DPR) is presently 59.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on UCBI shares. Truist Financial reduced their price objective on United Community Banks from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. DA Davidson reaffirmed a “buy” rating on shares of United Community Banks in a report on Monday, January 15th. TheStreet downgraded shares of United Community Banks from a “b” rating to a “c+” rating in a research report on Wednesday, January 24th. StockNews.com raised shares of United Community Banks to a “sell” rating in a research report on Wednesday, January 17th. Finally, Piper Sandler boosted their target price on shares of United Community Banks from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, United Community Banks has an average rating of “Hold” and an average price target of $31.00.

About United Community Banks

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.